Alta Wealth Advisors LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Alta Wealth Advisors LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 31.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,143 shares of the information technology services provider’s stock after purchasing an additional 760 shares during the period. ServiceNow comprises 1.3% of Alta Wealth Advisors LLC’s investment portfolio, making the stock its 18th largest position. Alta Wealth Advisors LLC’s holdings in ServiceNow were worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Vanguard Group Inc. raised its stake in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after buying an additional 34,855 shares during the period. Swedbank AB lifted its stake in ServiceNow by 10.3% in the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after acquiring an additional 120,983 shares during the period. Ameriprise Financial Inc. raised its holdings in ServiceNow by 21.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after purchasing an additional 168,734 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of ServiceNow by 1.8% in the 2nd quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider’s stock worth $533,316,000 after purchasing an additional 11,979 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.5 %

NOW stock opened at $921.75 on Friday. The business’s 50-day moving average is $874.61 and its two-hundred day moving average is $791.98. The company has a market cap of $188.96 billion, a price-to-earnings ratio of 98.58, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. Guggenheim reissued a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Stifel Nicolaus increased their target price on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JMP Securities upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday. Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $914.15.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock worth $5,935,447 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow 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.