WESPAC Advisors SoCal LLC Buys 574 Shares of ServiceNow, Inc. (NYSE:NOW)

WESPAC Advisors SoCal LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,625 shares of the information technology services provider’s stock after purchasing an additional 574 shares during the period. WESPAC Advisors SoCal LLC’s holdings in ServiceNow were worth $2,764,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NOW. Argonautica Private Wealth Management Inc. boosted its holdings in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares during the last quarter. Wealth Management Partners LLC increased its holdings in ServiceNow by 2.7% during the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after acquiring an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group increased its holdings in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares during the period. Optas LLC increased its holdings in ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares during the period. Finally, Trust Co. of Vermont increased its holdings in ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 15 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 125 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock worth $3,997,012 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NOW shares. Citigroup upped their target price on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. BMO Capital Markets dropped their price target on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Finally, UBS Group dropped their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $814.48.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $2.29 during trading on Monday, reaching $788.96. 1,084,301 shares of the company traded hands, compared to its average volume of 1,283,481. The firm has a 50 day simple moving average of $726.55 and a 200-day simple moving average of $741.24. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $161.74 billion, a PE ratio of 84.38, a P/E/G ratio of 4.93 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. Equities research analysts anticipate that ServiceNow, Inc. will post 6.5 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.