ServiceNow, Inc. $NOW Shares Bought by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC significantly increased its stake in ServiceNow, boosting its position by 765.9% in the fourth quarter to 21,872 shares valued at about $3.35 million.
• ServiceNow reported quarterly earnings of $0.97 per share, matching analysts’ expectations, while revenue of $3.77 billion slightly topped estimates and rose 22.1% from a year earlier.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $141.85, even as some insiders recently sold shares.

New Age Alpha Advisors LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 765.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,872 shares of the information technology services provider's stock after buying an additional 19,346 shares during the period. New Age Alpha Advisors LLC's holdings in ServiceNow were worth $3,351,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NOW. IAG Wealth Partners LLC increased its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC increased its position in ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after buying an additional 128 shares during the period. Millstone Evans Group LLC increased its position in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after buying an additional 132 shares during the period. Lodestone Wealth Management LLC acquired a new position in ServiceNow during the fourth quarter worth approximately $26,000. Finally, Albion Financial Group UT increased its position in ServiceNow by 400.0% during the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock worth $26,000 after buying an additional 136 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Down 0.0%

NYSE:NOW opened at $102.13 on Tuesday. The firm has a market cap of $105.29 billion, a P/E ratio of 60.86, a PEG ratio of 1.85 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock's 50 day simple moving average is $98.53 and its 200-day simple moving average is $125.20. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $236.00 price target (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. Capital One Financial lifted their price target on ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Barclays reissued an "overweight" rating and issued a $134.00 target price (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. BTIG Research reissued a "buy" rating and issued a $150.00 target price on shares of ServiceNow in a report on Monday, May 4th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $121.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $141.85.

About ServiceNow

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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