Signal Advisors Wealth LLC Has $6.44 Million Stake in ServiceNow, Inc. $NOW

Key Points

• Signal Advisors Wealth LLC significantly increased its stake in ServiceNow, Inc. by 563.9% during the second quarter, owning 6,261 shares valued at approximately $6.4 million.
• Over 87.18% of ServiceNow's stock is owned by institutional investors, with several hedge funds making notable increases to their holdings.
• ServiceNow reported earnings of $4.09 per share for the last quarter, beating estimates, and achieved a revenue of $3.22 billion, marking a 22.4% increase compared to the previous year.

Signal Advisors Wealth LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 563.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,261 shares of the information technology services provider's stock after acquiring an additional 5,318 shares during the period. Signal Advisors Wealth LLC's holdings in ServiceNow were worth $6,437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. Brighton Jones LLC raised its position in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares during the last quarter. Two Sigma Investments LP raised its position in shares of ServiceNow by 1.5% during the fourth quarter. Two Sigma Investments LP now owns 4,405 shares of the information technology services provider's stock valued at $4,670,000 after buying an additional 67 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in shares of ServiceNow during the fourth quarter valued at about $387,000. Waverly Advisors LLC raised its position in shares of ServiceNow by 110.0% during the fourth quarter. Waverly Advisors LLC now owns 1,842 shares of the information technology services provider's stock valued at $1,953,000 after buying an additional 965 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $19,944,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 1,452 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares in the company, valued at approximately $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Up 1.6%

NOW stock traded up $15.47 during midday trading on Friday, reaching $963.21. The company's stock had a trading volume of 2,806,372 shares, compared to its average volume of 1,416,023. The business's 50-day simple moving average is $922.60 and its 200-day simple moving average is $923.38. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $200.35 billion, a PE ratio of 121.31, a price-to-earnings-growth ratio of 4.27 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.

ServiceNow (NYSE:NOW - Get Free Report) last posted its 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. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the business posted $3.13 earnings per share. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Jefferies Financial Group upped their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Oppenheimer reissued an "outperform" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Bank of America increased their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

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.