Arete Wealth Advisors LLC Has $1.39 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Arete Wealth Advisors LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 47.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,555 shares of the information technology services provider's stock after purchasing an additional 500 shares during the period. Arete Wealth Advisors LLC's holdings in ServiceNow were worth $1,387,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Catalyst Financial Partners LLC raised its holdings in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock valued at $1,025,000 after buying an additional 11 shares during the period. First Affirmative Financial Network raised its stake in shares of ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock valued at $801,000 after acquiring an additional 12 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider's stock valued at $84,000 after acquiring an additional 12 shares in the last quarter. BluePointe Capital Management LLC boosted its position in ServiceNow by 0.6% during the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider's stock worth $1,801,000 after purchasing an additional 12 shares during the period. Finally, Morling Financial Advisors LLC boosted its position in ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider's stock worth $415,000 after purchasing an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Up 0.1 %

Shares of ServiceNow stock traded up $1.47 on Thursday, hitting $1,148.65. 686,396 shares of the company's stock traded hands, compared to its average volume of 1,279,397. The firm's 50-day moving average price is $997.59 and its two-hundred day moving average price is $866.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $236.62 billion, a PE ratio of 178.67, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on NOW shares. StockNews.com upgraded ServiceNow from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Sanford C. Bernstein increased their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Robert W. Baird boosted their target price on shares of ServiceNow from $900.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Finally, TD Cowen lifted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average target price of $1,029.78.

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.