B. Riley Wealth Advisors Inc. Has $3.91 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

B. Riley Wealth Advisors Inc. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 56.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,964 shares of the information technology services provider’s stock after selling 6,524 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in ServiceNow were worth $3,905,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of ServiceNow during the 4th quarter worth about $795,000. Jones Financial Companies Lllp boosted its position in ServiceNow by 2.3% during the fourth quarter. Jones Financial Companies Lllp now owns 18,024 shares of the information technology services provider’s stock valued at $12,734,000 after purchasing an additional 408 shares during the last quarter. CWA Asset Management Group LLC grew its stake in ServiceNow by 34.7% in the fourth quarter. CWA Asset Management Group LLC now owns 1,673 shares of the information technology services provider’s stock valued at $1,182,000 after purchasing an additional 431 shares in the last quarter. NEOS Investment Management LLC increased its position in shares of ServiceNow by 90.7% during the 4th quarter. NEOS Investment Management LLC now owns 2,907 shares of the information technology services provider’s stock worth $2,054,000 after purchasing an additional 1,383 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of ServiceNow by 2.2% during the 4th quarter. CIBC Asset Management Inc now owns 51,798 shares of the information technology services provider’s stock worth $36,595,000 after purchasing an additional 1,116 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $894.40 on Tuesday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $945.46. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $840.35 and its 200 day simple moving average is $777.10. The firm has a market capitalization of $183.35 billion, a PE ratio of 95.66, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the company earned $0.77 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. On average, analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. KeyCorp dropped their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Stifel Nicolaus lifted their price target on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Piper Sandler upped their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, TD Cowen lifted their target price on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Activity

In related news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on 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 directly owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

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.