Advocacy Wealth Management LLC Boosts Stock Position in ServiceNow, Inc. $NOW

Advocacy Wealth Management LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 484.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 76,725 shares of the information technology services provider’s stock after buying an additional 63,603 shares during the period. Advocacy Wealth Management LLC’s holdings in ServiceNow were worth $11,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC raised its stake in ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC increased its stake in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 128 shares during the last quarter. Millstone Evans Group LLC increased its stake in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its stake in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC bought a new stake in ServiceNow in the 4th quarter worth approximately $25,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on NOW. Morgan Stanley reduced their price objective on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings downgraded ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. BTIG Research reissued a “buy” rating and set a $150.00 target price on shares of ServiceNow in a research report on Monday, May 4th. UBS Group reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.85.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by corporate insiders.

ServiceNow Trading Up 1.8%

Shares of NYSE NOW opened at $114.43 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $117.98 billion, a P/E ratio of 68.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The business has a fifty day moving average price of $99.69 and a 200 day moving average price of $121.36.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. Equities research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.