WealthPLAN Partners LLC Has $814,000 Stock Position in ServiceNow, Inc. $NOW

by · The Cerbat Gem

WealthPLAN Partners LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW – Free Report) by 58.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 792 shares of the information technology services provider’s stock after selling 1,130 shares during the period. WealthPLAN Partners LLC’s holdings in ServiceNow were worth $814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. acquired a new position in ServiceNow in the 2nd quarter valued at approximately $30,000. Bogart Wealth LLC increased its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter worth $26,000. Richardson Financial Services Inc. increased its position in shares of ServiceNow by 50.0% during the second quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock worth $33,000 after buying an additional 11 shares during the period. Finally, WASHINGTON TRUST Co increased its position in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,737 shares of company stock valued at $16,798,825. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOW. Zacks Research upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Morgan Stanley upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. DA Davidson increased their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,121.37.

Get Our Latest Report on ServiceNow

ServiceNow Stock Down 1.0%

Shares of NYSE NOW opened at $902.22 on Thursday. The firm has a market cap of $187.66 billion, a PE ratio of 113.63, a P/E/G ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company’s fifty day simple moving average is $909.21 and its 200 day simple moving average is $933.51. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.13 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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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