B. Riley Wealth Advisors Inc. Sells 6,524 Shares of ServiceNow, Inc. (NYSE:NOW)

B. Riley Wealth Advisors Inc. lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 56.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,964 shares of the information technology services provider’s stock after selling 6,524 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in ServiceNow were worth $3,905,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB acquired a new position in shares of ServiceNow during the first quarter valued at about $897,908,000. Global Assets Advisory LLC acquired a new position in ServiceNow during the 1st quarter worth approximately $403,034,000. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in ServiceNow in the second quarter valued at approximately $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after acquiring an additional 271,153 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. TD Cowen lifted their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. KeyCorp cut their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company increased their price objective on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $855.44.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 over the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $894.40 on Tuesday. The company has a market cap of $183.35 billion, a PE ratio of 95.66, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm’s 50-day simple moving average is $840.35 and its two-hundred day simple moving average is $777.10. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $945.46.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the firm earned $0.77 EPS. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

ServiceNow Company 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.