U.S. Capital Wealth Advisors LLC Purchases 995 Shares of ServiceNow, Inc. $NOW

U.S. Capital Wealth Advisors LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 97.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,020 shares of the information technology services provider's stock after purchasing an additional 995 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in ServiceNow were worth $2,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. bought a new stake in ServiceNow in the 2nd quarter worth approximately $30,000. Bogart Wealth LLC raised its stake in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $26,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $37,000. Finally, WASHINGTON TRUST Co boosted its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW opened at $928.34 on Wednesday. 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 stock has a market capitalization of $193.09 billion, a PE ratio of 116.92, a price-to-earnings-growth ratio of 4.27 and a beta of 0.91. The stock's 50 day moving average price is $921.75 and its 200-day moving average price is $924.54. 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 released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.13 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group decreased their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Citigroup boosted their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC raised their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the sale, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock valued at $17,049,775 over the last three months. Corporate insiders own 0.38% of the company's stock.

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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