Alliance Wealth Advisors LLC UT Has $2.10 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Alliance Wealth Advisors LLC UT reduced its holdings in ServiceNow, Inc. by 41.7% during the first quarter, now owning 2,637 shares valued at approximately $2.1 million.
• ServiceNow's stock recently reached $866.89 per share, with a market capitalization of $180.31 billion, and reported a quarterly revenue increase of 22.4%.
• Analyst ratings for ServiceNow are predominantly positive, with a consensus rating of “Moderate Buy” and a target price of $1,115.20.

Alliance Wealth Advisors LLC UT lessened its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 41.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,637 shares of the information technology services provider's stock after selling 1,884 shares during the quarter. Alliance Wealth Advisors LLC UT's holdings in ServiceNow were worth $2,100,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NOW. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the period. Main Street Financial Solutions LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at $341,000. Capital International Sarl lifted its stake in shares of ServiceNow by 5.6% during the fourth quarter. Capital International Sarl now owns 34,602 shares of the information technology services provider's stock valued at $36,682,000 after acquiring an additional 1,833 shares during the period. Capital Group Investment Management PTE. LTD. lifted its stake in shares of ServiceNow by 1.7% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 4,827 shares of the information technology services provider's stock valued at $5,117,000 after acquiring an additional 83 shares during the period. Finally, Capital International Ltd. CA lifted its stake in shares of ServiceNow by 1.3% during the fourth quarter. Capital International Ltd. CA now owns 22,212 shares of the information technology services provider's stock valued at $23,547,000 after acquiring an additional 286 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Up 1.9%

Shares of ServiceNow stock opened at $866.89 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The business has a 50-day moving average of $967.03 and a two-hundred day moving average of $935.06. The company has a market capitalization of $180.31 billion, a P/E ratio of 109.18, a price-to-earnings-growth ratio of 3.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. ServiceNow's quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the company earned $3.13 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Raymond James Financial increased their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, DA Davidson increased their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,738 shares of company stock valued at $5,713,973 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.

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