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Savvy Advisors Inc. Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

ServiceNow logo with Computer and Technology background

Key Points

  • Savvy Advisors Inc. increased its stake in ServiceNow by 69.6%, acquiring an additional 378 shares, bringing its total to 921 shares valued at approximately $733,000.
  • ServiceNow's recent quarterly earnings report revealed an EPS of $4.09, exceeding expectations, and a revenue of $3.22 billion, marking a year-over-year increase of 22.4%.
  • Directors at ServiceNow sold shares recently; for example, Director Anita M. Sands sold 428 shares for around $433,825, indicating potential insider trading activity.
  • Need better tools to track ServiceNow? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Savvy Advisors Inc. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 69.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 921 shares of the information technology services provider's stock after acquiring an additional 378 shares during the period. Savvy Advisors Inc.'s holdings in ServiceNow were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its stake in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow during the 1st quarter worth $26,000. Quarry LP purchased a new position in shares of ServiceNow during the 4th quarter worth $27,000. WASHINGTON TRUST Co boosted its stake 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 worth $29,000 after acquiring an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the 4th quarter worth $37,000. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other news, Director Lawrence Jackson sold 757 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total value of $749,808.50. Following the completion of the sale, the director owned 588 shares of the company's stock, valued at approximately $582,414. This represents a 56.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider directly owned 3,000 shares of the company's stock, valued at $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,799 shares of company stock worth $5,800,903. Insiders own 0.38% of the company's stock.

ServiceNow Trading Down 1.9%

ServiceNow stock traded down $16.56 during trading hours on Monday, hitting $855.95. The company had a trading volume of 2,368,911 shares, compared to its average volume of 1,652,977. The company has a 50-day moving average price of $982.92 and a two-hundred day moving average price of $942.17. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a market cap of $178.04 billion, a P/E ratio of 107.80, a P/E/G ratio of 3.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current 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, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 EPS. The company's revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, Jefferies Financial Group lifted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

View Our Latest Analysis on ServiceNow

ServiceNow Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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