Arkadios Wealth Advisors Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)


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Arkadios Wealth Advisors lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 43.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 314 shares of the information technology services provider’s stock after acquiring an additional 95 shares during the quarter. Arkadios Wealth Advisors’ holdings in ServiceNow were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Balentine LLC increased its position in shares of ServiceNow by 3.0% during the fourth quarter. Balentine LLC now owns 622 shares of the information technology services provider’s stock worth $342,000 after acquiring an additional 18 shares during the period. Paul John Balson increased its position in shares of ServiceNow by 1.5% during the fourth quarter. Paul John Balson now owns 1,258 shares of the information technology services provider’s stock worth $692,000 after acquiring an additional 18 shares during the period. Symmetry Partners LLC increased its position in shares of ServiceNow by 1.7% during the fourth quarter. Symmetry Partners LLC now owns 1,152 shares of the information technology services provider’s stock worth $634,000 after acquiring an additional 19 shares during the period. RFG Advisory LLC increased its position in shares of ServiceNow by 2.3% during the fourth quarter. RFG Advisory LLC now owns 942 shares of the information technology services provider’s stock worth $499,000 after acquiring an additional 21 shares during the period. Finally, Barrett Asset Management LLC increased its position in shares of ServiceNow by 1.2% during the fourth quarter. Barrett Asset Management LLC now owns 1,726 shares of the information technology services provider’s stock worth $950,000 after acquiring an additional 21 shares during the period. 87.20% of the stock is currently owned by institutional investors and hedge funds.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 916 shares of the stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $591.82, for a total value of $542,107.12. Following the completion of the transaction, the insider now directly owns 35,371 shares of the company’s stock, valued at $20,933,265.22. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 75 shares of the stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $521.00, for a total transaction of $39,075.00. Following the completion of the transaction, the director now directly owns 9,424 shares of the company’s stock, valued at $4,909,904. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,192 shares of company stock valued at $20,367,655. 1.00% of the stock is owned by insiders.

Shares of NYSE:NOW opened at $490.32 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.64. The company has a market cap of $96.81 billion, a P/E ratio of 138.90, a PEG ratio of 12.70 and a beta of 1.14. ServiceNow, Inc. has a 52 week low of $335.01 and a 52 week high of $598.37. The company has a 50-day moving average price of $515.78 and a 200 day moving average price of $528.27.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 28th. The information technology services provider reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.17. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. ServiceNow had a net margin of 16.60% and a return on equity of 9.79%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. Analysts expect that ServiceNow, Inc. will post 1.11 EPS for the current year.

Several equities analysts recently commented on the company. Argus increased their target price on ServiceNow from $600.00 to $640.00 and gave the company a “buy” rating in a report on Tuesday, February 2nd. Citigroup assumed coverage on ServiceNow in a report on Wednesday, March 3rd. They issued a “buy” rating and a $665.00 target price on the stock. OTR Global raised ServiceNow to a “positive” rating in a report on Friday, January 22nd. Raymond James increased their target price on ServiceNow from $575.00 to $600.00 and gave the company a “strong-buy” rating in a report on Thursday, January 28th. Finally, Cowen increased their target price on ServiceNow from $600.00 to $620.00 and gave the company an “outperform” rating in a report on Thursday, January 28th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. ServiceNow has an average rating of “Buy” and a consensus price target of $606.24.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Read More: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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