Wealthcare Advisory Partners LLC Boosts Stock Position in ServiceNow, Inc. $NOW

Wealthcare Advisory Partners LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 24.9% in the second quarter, Holdings Channel reports. The institutional investor owned 38,198 shares of the information technology services provider’s stock after purchasing an additional 7,616 shares during the period. Wealthcare Advisory Partners LLC’s holdings in ServiceNow were worth $3,792,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NOW. Millstone Evans Group LLC grew its stake in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC purchased a new position in shares of ServiceNow in the 4th quarter worth about $25,000. Measured Wealth Private Client Group LLC boosted its stake in ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC boosted its stake in ServiceNow by 432.3% in the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. CLSA assumed coverage on shares of ServiceNow in a report on Monday, July 20th. They set an “underperform” rating and a $72.00 price target on the stock. Capital One Financial raised their price target on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $143.39.

ServiceNow Price Performance

NOW opened at $127.51 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $131.85 billion, a P/E ratio of 79.69, a P/E/G ratio of 2.24 and a beta of 0.94. The company’s 50-day simple moving average is $106.56 and its two-hundred day simple moving average is $105.74. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,993 shares of company stock worth $1,716,436 over the last quarter. Company insiders own 0.34% of the company’s stock.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.