Aptus Capital Advisors LLC Decreases Stock Position in ServiceNow, Inc. $NOW

Key Points

• Aptus Capital Advisors LLC reduced its position in ServiceNow, Inc. by 4.5%, owning 36,855 shares valued at approximately $29.3 million after selling 1,741 shares in the first quarter.
• A significant portion of ServiceNow's stock, about 87.18%, is held by hedge funds and institutional investors, with various firms participating in buying and selling shares.
• ServiceNow reported a 22.4% increase in revenue year-over-year for the last quarter, with earnings per share of $4.09, surpassing analyst expectations.

Aptus Capital Advisors LLC reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,855 shares of the information technology services provider's stock after selling 1,741 shares during the quarter. Aptus Capital Advisors LLC's holdings in ServiceNow were worth $29,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Quarry LP purchased a new stake in ServiceNow in the fourth quarter worth $27,000. Bogart Wealth LLC grew its position in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow in the first quarter valued at $26,000. Heck Capital Advisors LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at $37,000. Finally, WASHINGTON TRUST Co grew its position in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. JPMorgan Chase & Co. reduced their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. JMP Securities restated a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Finally, Guggenheim restated a "sell" rating and set a $724.00 target price on shares of ServiceNow in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,115.20.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,738 shares of company stock worth $5,713,973 in the last quarter. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

Shares of NOW opened at $866.89 on Monday. The business's fifty day simple moving average is $967.03 and its two-hundred day simple moving average is $933.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a market cap of $180.31 billion, a price-to-earnings ratio of 109.18, a P/E/G ratio of 3.91 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company's revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.13 EPS. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

About ServiceNow

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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