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B. Riley Wealth Advisors Inc. Sells 1,077 Shares of ServiceNow, Inc. (NYSE:NOW)

ServiceNow logo with Computer and Technology background

B. Riley Wealth Advisors Inc. decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,887 shares of the information technology services provider's stock after selling 1,077 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in ServiceNow were worth $3,471,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NOW. Truvestments Capital LLC bought a new stake in ServiceNow in the third quarter valued at $30,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. Ridgewood Investments LLC acquired a new position in ServiceNow during the 2nd quarter worth $32,000. Oakworth Capital Inc. grew its stake in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Semmax Financial Advisors Inc. bought a new stake in shares of ServiceNow during the second quarter valued at about $39,000. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 300 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now directly owns 10,467 shares of the company's stock, valued at approximately $10,968,892.65. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 353 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was 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 owns 3,027 shares of the company's stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Stock Down 2.4 %

NOW traded down $27.32 during trading on Friday, reaching $1,121.10. 1,347,291 shares of the stock traded hands, compared to its average volume of 1,279,685. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The stock's 50-day simple moving average is $1,006.82 and its two-hundred day simple moving average is $871.88. The stock has a market cap of $230.95 billion, a price-to-earnings ratio of 174.35, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm's quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on NOW shares. Canaccord Genuity Group raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Scotiabank assumed coverage on ServiceNow in a report on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 target price on the stock. Stifel Nicolaus increased their price target on ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Morgan Stanley downgraded ServiceNow from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Finally, TD Cowen increased their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,034.96.

Read Our Latest Stock Report on ServiceNow

About ServiceNow

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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