Stratos Wealth Partners LTD. Purchases 339 Shares of ServiceNow, Inc. $NOW

Key Points

• Stratos Wealth Partners LTD. increased its holdings in ServiceNow, Inc. by 3.9% in Q2, owning a total of 8,927 shares worth about $9.18 million after acquiring 339 additional shares.
• ServiceNow's stock received several analyst upgrades, with target prices increasing to $1,150.00 from Oppenheimer and $1,234.00 from Citigroup, reflecting confidence in the company's growth prospects.
• Insider selling activity included CFO Gina Mastantuono selling 1,762 shares, while insiders overall sold 18,737 shares totaling approximately $16.8 million in the last three months.

Stratos Wealth Partners LTD. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,927 shares of the information technology services provider's stock after acquiring an additional 339 shares during the period. Stratos Wealth Partners LTD.'s holdings in ServiceNow were worth $9,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Brighton Jones LLC raised its stake in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the period. GAMMA Investing LLC lifted its holdings in shares of ServiceNow by 10.0% in the first quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider's stock worth $2,689,000 after buying an additional 308 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of ServiceNow by 1.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,258 shares of the information technology services provider's stock worth $1,004,000 after acquiring an additional 15 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in shares of ServiceNow by 5.6% during the first quarter. Silver Oak Securities Incorporated now owns 664 shares of the information technology services provider's stock worth $530,000 after acquiring an additional 35 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of ServiceNow by 4.5% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 563 shares of the information technology services provider's stock worth $449,000 after acquiring an additional 24 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NOW shares. Oppenheimer restated an "outperform" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a research report on Saturday. Cantor Fitzgerald restated an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Citigroup upped their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, UBS Group cut their target price on shares of ServiceNow from $1,100.00 to $1,075.00 and set a "buy" rating for the company in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,121.37.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 12,228 shares of the company's stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel directly owned 4,332 shares of the company's stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 over the last three months. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Up 1.1%

NOW stock opened at $904.57 on Friday. The firm has a fifty day moving average price of $910.30 and a 200 day moving average price of $934.82. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $188.15 billion, a PE ratio of 113.93, a price-to-earnings-growth ratio of 4.03 and a beta of 0.92.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during 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%. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.13 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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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