ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 47.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,555 shares of the information technology services provider’s stock after acquiring an additional 500 shares during the period. Arete Wealth Advisors LLC’s holdings in ServiceNow were worth $1,387,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Archford Capital Strategies LLC acquired a new position in shares of ServiceNow during the second quarter valued at $261,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of ServiceNow by 1.0% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 303,952 shares of the information technology services provider’s stock worth $231,242,000 after purchasing an additional 3,145 shares during the last quarter. Swedbank AB raised its holdings in shares of ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after purchasing an additional 120,983 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in ServiceNow during the second quarter valued at approximately $372,000. Finally, LA Financiere DE L Echiquier boosted its holdings in ServiceNow by 10.3% during the second quarter. LA Financiere DE L Echiquier now owns 72,782 shares of the information technology services provider’s stock worth $57,255,000 after buying an additional 6,807 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 1.7 %

NOW stock opened at $1,147.26 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $236.34 billion, a PE ratio of 178.42, a PEG ratio of 6.45 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The company has a fifty day simple moving average of $992.26 and a 200 day simple moving average of $864.29.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. Sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 over the last 90 days. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NOW. Evercore ISI increased their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Oppenheimer lifted their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Barclays upped their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,022.37.

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.