Wealthedge Investment Advisors LLC Purchases New Shares in ServiceNow, Inc. (NYSE:NOW)

Wealthedge Investment Advisors LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,883 shares of the information technology services provider's stock, valued at approximately $1,996,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Avidian Wealth Enterprises LLC raised its stake in shares of ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after buying an additional 9 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in shares of ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after buying an additional 11 shares in the last quarter. TBH Global Asset Management LLC raised its stake in shares of ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after buying an additional 11 shares in the last quarter. Onefund LLC raised its stake in shares of ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after buying an additional 11 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of ServiceNow by 44.0% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 292 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $287,620.00. Following the completion of the transaction, the chief financial officer now directly owns 11,198 shares of the company's stock, valued at approximately $11,030,030. This represents a 2.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,102 shares of company stock worth $2,944,038 in the last 90 days. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Down 0.3%

Shares of NOW traded down $3.43 during trading hours on Friday, hitting $1,011.80. 2,663,194 shares of the company were exchanged, compared to its average volume of 1,505,352. The company has a market cap of $209.43 billion, a PE ratio of 148.14, a PEG ratio of 4.51 and a beta of 0.97. The firm's 50 day moving average is $899.20 and its 200-day moving average is $974.30. ServiceNow, Inc. has a 52 week low of $645.45 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last released 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. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm's revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.41 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. BMO Capital Markets boosted their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company boosted their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Company 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.