Sheaff Brock Investment Advisors LLC Raises Position in ServiceNow, Inc. (NYSE:NOW)

Sheaff Brock Investment Advisors LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 942 shares of the information technology services provider’s stock after acquiring an additional 52 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in ServiceNow were worth $718,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new position in shares of ServiceNow in the 4th quarter valued at about $639,000. Twin Peaks Wealth Advisors LLC purchased a new position in ServiceNow in the fourth quarter valued at about $296,000. PFG Investments LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $278,000. Kozak & Associates Inc. boosted its stake in shares of ServiceNow by 22.2% during the 4th quarter. Kozak & Associates Inc. now owns 457 shares of the information technology services provider’s stock worth $332,000 after acquiring an additional 83 shares in the last quarter. Finally, SignalPoint Asset Management LLC acquired a new stake in shares of ServiceNow in the 4th quarter worth approximately $246,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.1 %

Shares of NOW stock traded down $0.94 during trading hours on Friday, reaching $827.85. The company had a trading volume of 2,409,663 shares, compared to its average volume of 1,332,475. The stock’s fifty day simple moving average is $742.77 and its 200 day simple moving average is $750.01. The company has a market capitalization of $169.71 billion, a P/E ratio of 89.01, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $850.33.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 15.01%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. As a group, sell-side analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NOW shares. Piper Sandler increased their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp dropped their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Robert W. Baird lifted their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Finally, Citigroup raised their price target on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $833.57.

Insider Buying and Selling

In other news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the transaction, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,530 shares of company stock worth $3,997,012. 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.