Signal Advisors Wealth LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Signal Advisors Wealth LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 943 shares of the information technology services provider's stock, valued at approximately $751,000.

Several other hedge funds have also modified their holdings of NOW. GAMMA Investing LLC lifted its holdings in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the period. Norges Bank acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $2,603,360,000. Proficio Capital Partners LLC lifted its holdings in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after buying an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $682,468,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after buying an additional 509,467 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 248 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the sale, the director now owns 10,643 shares of the company's stock, valued at $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer now directly owns 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,030.70 on Friday. The firm has a market capitalization of $213.34 billion, a P/E ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. The stock has a fifty day moving average price of $919.44 and a 200 day moving average price of $974.97. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the business earned $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BMO Capital Markets raised their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Royal Bank of Canada raised their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. Bank of America dropped their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Canaccord Genuity Group dropped their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

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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