B. Riley Wealth Advisors Inc. Lowers Stake in ServiceNow, Inc. (NYSE:NOW)

B. Riley Wealth Advisors Inc. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 33.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,570 shares of the information technology services provider's stock after selling 1,317 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in ServiceNow were worth $2,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in ServiceNow in the fourth quarter valued at $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow during the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. raised its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW stock traded down $3.43 during midday trading on Friday, reaching $1,011.80. 2,662,868 shares of the company traded hands, compared to its average volume of 1,530,807. The firm's 50 day simple moving average is $896.18 and its two-hundred day simple moving average is $975.49. The firm has a market cap of $209.43 billion, a PE ratio of 148.14, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow's revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NOW shares. Piper Sandler cut their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Oppenheimer reissued an "outperform" rating and issued a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Evercore ISI upped their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley lifted their target price on ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Buying and Selling

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the sale, the director now owns 3,205 shares of the company's stock, valued at $2,985,842.10. This represents a 19.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,102 shares of company stock worth $2,944,038 in the last three months. Corporate insiders own 0.38% of the company's stock.

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.