ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289 shares of the information technology services provider’s stock after purchasing an additional 40 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in ServiceNow were worth $230,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NOW. Quarry LP acquired a new stake in ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter worth $32,000. FPC Investment Advisory Inc. lifted its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.3%

Shares of NOW opened at $1,027.05 on Tuesday. The stock has a market capitalization of $212.58 billion, a PE ratio of 150.37, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company’s 50-day simple moving average is $923.49 and its 200-day simple moving average is $973.88.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.41 EPS. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider now owns 3,000 shares of the company’s stock, valued at $3,060,000. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock valued at $6,611,245 in the last ninety days. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Monday. Robert W. Baird boosted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Guggenheim boosted their price target on shares of ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,062.50.

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.