International Private Wealth Advisors LLC Invests $450,000 in ServiceNow, Inc. $NOW

Key Points

• International Private Wealth Advisors LLC acquired 438 shares of ServiceNow, Inc. valued at approximately $450,000, indicating increasing institutional interest in the company.
• Insider trading activity was noted, with General Counsel Russell S. Elmer and Vice Chairman Nicholas Tzitzon having sold significant portions of their shares recently, reflecting a 28.16% and 36.43% decrease in their ownership, respectively.
• Analysts are generally optimistic about ServiceNow, with a consensus rating of "Moderate Buy" and target prices ranging from $1,150 to $1,300, suggesting potential for growth in the company's stock.

International Private Wealth Advisors LLC bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 438 shares of the information technology services provider's stock, valued at approximately $450,000.

Several other institutional investors also recently modified their holdings of NOW. Wealth Preservation Advisors LLC acquired a new position in ServiceNow during the 1st quarter valued at about $382,000. Corient IA LLC purchased a new stake in ServiceNow during the 1st quarter worth about $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow during the first quarter worth about $1,820,000. ASR Vermogensbeheer N.V. acquired a new position in ServiceNow during the 1st quarter worth approximately $19,278,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock worth $1,178,706,000 after acquiring an additional 840,731 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares in the company, valued at $10,594,950.60. This represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NOW. Mizuho increased their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Oppenheimer restated an "outperform" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. UBS Group lowered their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Finally, Barclays set a $1,210.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $15.47 during mid-day trading on Friday, reaching $963.21. 2,806,372 shares of the company traded hands, compared to its average volume of 1,502,164. The firm has a market cap of $200.35 billion, a PE ratio of 111.63, a PEG ratio of 4.33 and a beta of 0.91. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company's 50 day moving average price is $922.60 and its 200-day moving average price is $923.43. 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 (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the business earned $3.13 earnings per share. ServiceNow's quarterly revenue was up 22.4% on a year-over-year basis. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.