439 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Earned Wealth Advisors LLC

Key Points

• Earned Wealth Advisors LLC acquired a new position in ServiceNow, buying 439 shares valued at approximately $350,000 in the first quarter.
• Institutional investors currently own 87.18% of ServiceNow's stock, with notable increases in holdings from firms like GAMMA Investing LLC and OVERSEA CHINESE BANKING Corp Ltd.
• ServiceNow's recent earnings report showed an EPS of $4.09, exceeding expectations, with revenue of $3.22 billion for the quarter, a 22.4% increase year-over-year.

Earned Wealth Advisors LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 439 shares of the information technology services provider's stock, valued at approximately $350,000.

Several other institutional investors and hedge funds also recently modified their holdings of NOW. Bogart Wealth LLC raised 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 buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the first quarter valued at approximately $26,000. Quarry LP acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $27,000. WASHINGTON TRUST Co raised 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 buying an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NOW traded up $5.95 during mid-day trading on Wednesday, hitting $911.07. The company's stock had a trading volume of 1,067,691 shares, compared to its average volume of 1,630,136. The firm has a 50-day moving average price of $990.76 and a 200 day moving average price of $947.93. The stock has a market capitalization of $189.50 billion, a price-to-earnings ratio of 114.74, a PEG ratio of 4.08 and a beta of 0.93. 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 fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business's revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.13 EPS. On average, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NOW shares. Mizuho boosted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Guggenheim reaffirmed a "sell" rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Robert W. Baird upped their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 292 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $287,620.00. Following the completion of the transaction, the chief financial officer directly owned 11,198 shares in the company, valued at $11,030,030. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,990 shares of company stock valued at $6,047,567. Company insiders own 0.38% of the company's stock.

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.