ServiceNow, Inc. $NOW Shares Acquired by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 33.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 691 shares of the information technology services provider’s stock after purchasing an additional 174 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in ServiceNow were worth $710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. GC Wealth Management RIA LLC raised its position in ServiceNow by 552.2% in the second quarter. GC Wealth Management RIA LLC now owns 7,324 shares of the information technology services provider’s stock worth $7,530,000 after acquiring an additional 6,201 shares in the last quarter. ERn Financial LLC bought a new stake in ServiceNow in the second quarter worth about $247,000. Generate Investment Management Ltd raised its position in ServiceNow by 242.8% in the second quarter. Generate Investment Management Ltd now owns 13,322 shares of the information technology services provider’s stock worth $13,696,000 after acquiring an additional 9,436 shares in the last quarter. V Square Quantitative Management LLC raised its position in ServiceNow by 2.4% in the second quarter. V Square Quantitative Management LLC now owns 4,432 shares of the information technology services provider’s stock worth $4,556,000 after acquiring an additional 105 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in ServiceNow by 66.7% in the second quarter. Sound Income Strategies LLC now owns 45 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 18 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 2.0%

NOW opened at $936.76 on Monday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $194.85 billion, a price-to-earnings ratio of 117.98, a P/E/G ratio of 4.22 and a beta of 0.91. The business has a 50 day moving average of $919.74 and a 200-day moving average of $927.82.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the business earned $3.13 earnings per share. ServiceNow’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on NOW shares. Oppenheimer reiterated an “outperform” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. BMO Capital Markets boosted their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Cantor Fitzgerald restated an “overweight” rating and set a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Finally, Citigroup boosted their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock valued at $17,049,775 in the last ninety days. Company insiders own 0.38% 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.