Aviso Wealth Management Buys 622 Shares of 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 raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 229.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 893 shares of the information technology services provider's stock after purchasing an additional 622 shares during the period. Aviso Wealth Management's holdings in ServiceNow were worth $711,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Bogart Wealth LLC increased 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 valued at $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the 1st quarter worth approximately $26,000. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter valued at approximately $27,000. WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NOW traded up $5.95 during trading on Wednesday, hitting $911.07. The company's stock had a trading volume of 1,067,095 shares, compared to its average volume of 1,683,416. The business's 50 day simple moving average is $990.76 and its 200-day simple moving average is $947.93. The firm has a market cap of $189.50 billion, a PE ratio of 114.74, a P/E/G ratio of 4.16 and a beta of 0.93. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 428 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the sale, the director directly owned 10,891 shares in the company, valued at $11,039,226.51. The trade was a 3.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lawrence Jackson sold 757 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total transaction of $749,808.50. Following the completion of the transaction, the director directly owned 588 shares of the company's stock, valued at approximately $582,414. The trade was a 56.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,990 shares of company stock worth $6,047,567 over the last three months. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on NOW shares. Bank of America lifted their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Citigroup upped their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Jefferies Financial Group increased their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada boosted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, DA Davidson lifted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

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.