Aviso Wealth Management Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Aviso Wealth Management increased its stake in ServiceNow, Inc. by 229.5%, bringing their total to 893 shares valued at $711,000.
• Notable insider transactions included CFO Gina Mastantuono selling 292 shares and Director Anita M. Sands selling 428 shares, indicating a decrease in their ownership.
• ServiceNow reported a quarterly earnings per share of $4.09, surpassing expectations and indicating a 22.4% increase in revenue year-over-year.

Aviso Wealth Management boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 229.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 893 shares of the information technology services provider's stock after buying an additional 622 shares during the period. Aviso Wealth Management's holdings in ServiceNow were worth $711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC raised its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new stake in ServiceNow during the 1st quarter worth $26,000. Quarry LP acquired a new stake in ServiceNow in the 4th quarter valued at $27,000. WASHINGTON TRUST Co increased its holdings in ServiceNow by 620.0% in the 1st 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. Finally, Heck Capital Advisors LLC purchased a new position in ServiceNow in the fourth quarter valued at about $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 292 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the completion of the transaction, the chief financial officer directly owned 11,198 shares of the company's stock, valued at approximately $11,030,030. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 428 shares of the stock in a transaction that occurred 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 sale, the director owned 10,891 shares in the company, valued at $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,990 shares of company stock valued at $6,047,567 over the last ninety days. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Wells Fargo & Company upped their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Guggenheim reaffirmed a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Bank of America boosted their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Citigroup upped their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow Stock Down 3.1%

NOW stock opened at $914.03 on Friday. 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, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a fifty day moving average price of $994.89 and a two-hundred day moving average price of $950.76. The firm has a market cap of $190.12 billion, a price-to-earnings ratio of 115.12, a PEG ratio of 4.25 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results 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. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the firm posted $3.13 EPS. The company's revenue for the quarter was up 22.4% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

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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