ServiceNow, Inc. $NOW Position Lowered by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in ServiceNow, Inc. by 36.5%, owning 5,955 shares worth approximately $6.1 million following the sale of 3,423 shares.
• The company's revenue increased by 22.4% year-over-year, totaling $3.22 billion in its latest quarterly earnings, with EPS of $4.09 exceeding analyst estimates.
• Insider trades feature notable sales by CEO William R. Mcdermott and CFO Gina Mastantuono, with the CEO's ownership decreasing by 46.83% after selling 5,825 shares.

Atria Wealth Solutions Inc. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 36.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,955 shares of the information technology services provider's stock after selling 3,423 shares during the period. Atria Wealth Solutions Inc.'s holdings in ServiceNow were worth $6,127,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its position in shares of ServiceNow by 1.1% during the second quarter. Oregon Public Employees Retirement Fund now owns 17,877 shares of the information technology services provider's stock worth $18,379,000 after purchasing an additional 200 shares during the last quarter. Concord Asset Management LLC VA lifted its position in shares of ServiceNow by 3.7% during the second quarter. Concord Asset Management LLC VA now owns 1,528 shares of the information technology services provider's stock worth $1,571,000 after purchasing an additional 54 shares during the last quarter. Total Clarity Wealth Management Inc. lifted its holdings in ServiceNow by 3.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 507 shares of the information technology services provider's stock worth $521,000 after acquiring an additional 16 shares during the last quarter. Vest Financial LLC lifted its holdings in ServiceNow by 41.2% in the second quarter. Vest Financial LLC now owns 2,972 shares of the information technology services provider's stock worth $3,055,000 after acquiring an additional 867 shares during the last quarter. Finally, Pandora Wealth Inc. lifted its holdings in ServiceNow by 6,485.7% in the second quarter. Pandora Wealth Inc. now owns 461 shares of the information technology services provider's stock worth $474,000 after acquiring an additional 454 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer owned 6,614 shares in the company, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $923.44 on Tuesday. The firm's 50 day moving average is $909.24 and its two-hundred day moving average is $933.88. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm has a market capitalization of $192.07 billion, a P/E ratio of 116.30, a PEG ratio of 4.00 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating 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 company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business earned $3.13 earnings per share. ServiceNow's revenue was up 22.4% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Barclays set a $1,210.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Guggenheim reissued a "sell" rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Needham & Company LLC raised their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. Finally, UBS Group cut their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,122.20.

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.

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