Alta Wealth Advisors LLC Buys 760 Shares of ServiceNow, Inc. (NYSE:NOW)

Alta Wealth Advisors LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 31.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,143 shares of the information technology services provider’s stock after purchasing an additional 760 shares during the quarter. ServiceNow makes up about 1.3% of Alta Wealth Advisors LLC’s holdings, making the stock its 18th largest position. Alta Wealth Advisors LLC’s holdings in ServiceNow were worth $2,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NOW. &PARTNERS purchased a new position in ServiceNow during the first quarter worth about $622,000. International Assets Investment Management LLC boosted its stake in shares of ServiceNow by 3.1% in the 1st quarter. International Assets Investment Management LLC now owns 1,199 shares of the information technology services provider’s stock worth $921,000 after buying an additional 36 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of ServiceNow by 11.1% in the first quarter. Ballentine Partners LLC now owns 2,624 shares of the information technology services provider’s stock valued at $2,001,000 after acquiring an additional 263 shares in the last quarter. CHICAGO TRUST Co NA increased its position in shares of ServiceNow by 44.4% during the first quarter. CHICAGO TRUST Co NA now owns 618 shares of the information technology services provider’s stock valued at $471,000 after acquiring an additional 190 shares during the last quarter. Finally, Traynor Capital Management Inc. lifted its holdings in ServiceNow by 7.9% during the first quarter. Traynor Capital Management Inc. now owns 327 shares of the information technology services provider’s stock worth $249,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $921.75 on Friday. The stock has a market cap of $188.96 billion, a price-to-earnings ratio of 98.58, a PEG ratio of 5.63 and a beta of 0.99. 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 business has a 50-day simple moving average of $874.61 and a 200 day simple moving average of $791.98. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $949.59.

ServiceNow (NYSE:NOW) last issued 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. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Oppenheimer increased their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup lifted their price objective on shares of ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus increased their target price on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Truist Financial lifted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $914.15.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction 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 approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,267 shares of company stock valued at $5,935,447 in the last quarter. Corporate 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.