Advocacy Wealth Management LLC Has $11.75 Million Position in ServiceNow, Inc. $NOW

Key Points

• Advocacy Wealth Management LLC sharply increased its stake in ServiceNow by 484.7% in the fourth quarter, ending with 76,725 shares worth about $11.75 million.
• ServiceNow continues to draw broad institutional interest, with 87.18% of the company’s stock held by institutions and hedge funds.
• Wall Street remains broadly positive on the stock: analysts have a Moderate Buy consensus rating and an average price target of $141.85, while the company recently reported revenue and EPS that met or slightly beat expectations.

Advocacy Wealth Management LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 484.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,725 shares of the information technology services provider's stock after acquiring an additional 63,603 shares during the period. Advocacy Wealth Management LLC's holdings in ServiceNow were worth $11,754,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Meridian Wealth Advisors LLC boosted its position in shares of ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock worth $508,000 after acquiring an additional 12 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock valued at $1,169,000 after purchasing an additional 13 shares during the last quarter. JT Stratford LLC lifted its stake in ServiceNow by 3.5% in the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock valued at $354,000 after purchasing an additional 13 shares during the last quarter. Abbot Financial Management Inc. lifted its stake in ServiceNow by 2.9% in the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider's stock valued at $462,000 after purchasing an additional 14 shares during the last quarter. Finally, Cozad Asset Management Inc. lifted its stake in ServiceNow by 6.7% in the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider's stock valued at $205,000 after purchasing an additional 14 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NOW. Bank of America began coverage on shares of ServiceNow in a research note on Monday, May 18th. They set a "buy" rating and a $130.00 price target for the company. UBS Group reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Tuesday, May 26th. FBN Securities decreased their price target on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Morgan Stanley reduced their target price on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Finally, Barclays reiterated an "overweight" rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $141.85.

ServiceNow Trading Up 1.8%

NYSE NOW opened at $114.43 on Tuesday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a market cap of $117.98 billion, a P/E ratio of 68.20, a P/E/G ratio of 1.86 and a beta of 0.94. The stock's fifty day moving average price is $99.69 and its 200-day moving average price is $121.36. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company's quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company's stock.

ServiceNow Profile

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.

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