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ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Xcel Wealth Management LLC

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Xcel Wealth Management LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,665 shares of the information technology services provider's stock after acquiring an additional 275 shares during the period. ServiceNow accounts for about 1.2% of Xcel Wealth Management LLC's investment portfolio, making the stock its 25th largest position. Xcel Wealth Management LLC's holdings in ServiceNow were worth $3,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cassady Schiller Wealth Management LLC increased its holdings in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 11 shares during the period. Plancorp LLC increased its holdings in shares of ServiceNow by 4.1% in the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock valued at $327,000 after purchasing an additional 12 shares during the period. Kesler Norman & Wride LLC increased its holdings in shares of ServiceNow by 1.2% in the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after purchasing an additional 13 shares during the period. Sepio Capital LP lifted its holdings in shares of ServiceNow by 3.8% in the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after buying an additional 13 shares during the period. Finally, Mission Creek Capital Partners Inc. boosted its stake in shares of ServiceNow by 0.5% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 2,392 shares of the information technology services provider's stock worth $2,536,000 after buying an additional 13 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 3.6%

NYSE:NOW traded up $36.27 on Thursday, reaching $1,046.03. The company's stock had a trading volume of 1,205,886 shares, compared to its average volume of 1,486,285. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm has a market cap of $216.51 billion, a price-to-earnings ratio of 142.12, a price-to-earnings-growth ratio of 4.64 and a beta of 0.94. The stock has a 50 day moving average price of $999.82 and a 200 day moving average price of $964.70.

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, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm earned $3.41 EPS. The business's revenue was up 18.6% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. DA Davidson started coverage on shares of ServiceNow in a report on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 price target on the stock. UBS Group reaffirmed a "buy" rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Mizuho upped their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, William Blair restated an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

View Our Latest Report on ServiceNow

About ServiceNow

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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