Stratos Wealth Advisors LLC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Stratos Wealth Advisors LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 913 shares of the information technology services provider's stock after purchasing an additional 267 shares during the quarter. Stratos Wealth Advisors LLC's holdings in ServiceNow were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after buying an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in ServiceNow by 6.8% during 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 acquiring an additional 509,467 shares during the period. FMR LLC lifted its position in shares of ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after acquiring an additional 272,506 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after acquiring an additional 100,670 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of ServiceNow by 87,501.3% in the first 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 purchasing an additional 2,686,291 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 0.8%

Shares of NYSE:NOW opened at $1,015.17 on Thursday. The stock has a market capitalization of $210.12 billion, a P/E ratio of 137.93, a price-to-earnings-growth ratio of 4.70 and a beta of 0.94. The stock's 50-day moving average price is $1,008.69 and its 200-day moving average price is $962.58. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

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, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company earned $3.41 EPS. ServiceNow's revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 239 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the transaction, the director owned 10,404 shares in the company, valued at $10,924,200. The trade was a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 145 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $147,900.00. Following the transaction, the insider directly owned 3,027 shares of the company's stock, valued at $3,087,540. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,955 shares of company stock worth $6,862,195 over the last ninety days. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JMP Securities restated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. BMO Capital Markets raised their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Evercore ISI boosted their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and increased their target price for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Finally, Guggenheim reissued a "sell" rating and issued a $724.00 price target on shares of ServiceNow in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

About ServiceNow

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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