Atria Wealth Solutions Inc. Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Atria Wealth Solutions Inc. increased its stake in ServiceNow, Inc. by 5.7%, owning a total of 9,378 shares valued at approximately $7.47 million.
• ServiceNow received positive ratings from analysts, with target prices raised to between $1,100.00 and $1,150.00, reflecting strong investor confidence.
• Insider selling has occurred, notably with Vice Chairman Nicholas Tzitzon selling 1,171 shares, indicating notable shifts in insider ownership.

Atria Wealth Solutions Inc. grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,378 shares of the information technology services provider's stock after buying an additional 504 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in ServiceNow were worth $7,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the first quarter worth approximately $26,000. Quarry LP purchased a new stake in ServiceNow in the fourth quarter worth approximately $27,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in ServiceNow in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. Royal Bank Of Canada raised their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Robert W. Baird raised their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Oppenheimer restated an "outperform" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Finally, UBS Group dropped their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Transactions at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction 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 sale, the insider owned 3,000 shares in the company, valued at $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Jackson sold 757 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total transaction of $749,808.50. Following the completion of the sale, the director owned 588 shares in the company, valued at $582,414. The trade was a 56.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,990 shares of company stock valued at $6,047,567. 0.38% of the stock is owned by corporate insiders.

ServiceNow Trading Down 2.0%

Shares of ServiceNow stock opened at $904.60 on Wednesday. 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 firm has a market capitalization of $188.16 billion, a price-to-earnings ratio of 113.93, a PEG ratio of 4.16 and a beta of 0.93. The firm's 50 day simple moving average is $990.76 and its two-hundred day simple moving average is $947.93.

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

ServiceNow Company 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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