ORG Partners LLC Cuts Position in ServiceNow, Inc. (NYSE:NOW)

ORG Partners LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 9.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 144 shares of the information technology services provider’s stock after selling 15 shares during the quarter. ORG Partners LLC’s holdings in ServiceNow were worth $117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Quarry LP purchased a new position in shares of ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. increased its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on NOW. Oppenheimer reiterated an “outperform” rating and issued a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a report on Monday, June 9th. Mizuho lifted their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. Finally, Scotiabank set a $1,100.00 price objective on ServiceNow and gave the stock an “outperform” rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,062.50.

ServiceNow Stock Down 1.3%

NOW stock opened at $969.78 on Friday. The firm has a market cap of $200.72 billion, a PE ratio of 131.76, a PEG ratio of 4.48 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50 day moving average price is $964.42 and its 200-day moving average price is $970.33. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.41 EPS. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by company insiders.

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.