Cetera Investment Advisers Has $41.85 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Cetera Investment Advisers trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,201 shares of the information technology services provider’s stock after selling 1,113 shares during the period. Cetera Investment Advisers’ holdings in ServiceNow were worth $41,852,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Morling Financial Advisors LLC boosted its holdings in shares of ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 13 shares in the last quarter. Optas LLC boosted its stake in ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after buying an additional 14 shares in the last quarter. Cedar Wealth Management LLC grew its position in ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after acquiring an additional 14 shares during the last quarter. Financial Advocates Investment Management raised its stake in ServiceNow by 2.7% during the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock worth $415,000 after acquiring an additional 14 shares in the last quarter. Finally, Ndwm LLC lifted its holdings in shares of ServiceNow by 0.6% in the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after acquiring an additional 14 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

Shares of NOW opened at $867.34 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $177.80 billion, a P/E ratio of 92.76, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The firm’s fifty day simple moving average is $842.39 and its two-hundred day simple moving average is $777.97. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $945.46.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. Wells Fargo & Company lifted their price target on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Truist Financial upped their price target on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Guggenheim reissued a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. TD Cowen upped their target price on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Citigroup increased their target price on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $855.44.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last quarter. Insiders own 0.25% of the company’s stock.

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.