ServiceNow, Inc. $NOW Shares Sold by WealthCare Investment Partners LLC

by · The Cerbat Gem

WealthCare Investment Partners LLC cut its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,824 shares of the information technology services provider’s stock after selling 87 shares during the quarter. WealthCare Investment Partners LLC’s holdings in ServiceNow were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of NOW. GAMMA Investing LLC grew its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after buying an additional 2,686,291 shares in the last quarter. Nuveen LLC purchased a new position in ServiceNow in the first quarter valued at $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in ServiceNow by 1,586.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock valued at $742,965,000 after purchasing an additional 877,875 shares during the period. Goldman Sachs Group Inc. boosted its holdings in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the period. Finally, Parnassus Investments LLC purchased a new position in ServiceNow in the first quarter valued at $519,806,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 2.1%

NOW opened at $948.28 on Tuesday. The business has a 50 day moving average price of $925.62 and a two-hundred day moving average price of $922.47. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $197.24 billion, a PE ratio of 119.43, a P/E/G ratio of 4.18 and a beta of 0.91. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.13 EPS. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares in the company, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,976 shares of company stock worth $17,049,775 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent research reports. Citigroup lifted their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Guggenheim reiterated a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,200.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. Piper Sandler upped their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, DA Davidson upped their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,115.20.

Read Our Latest 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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