WealthCare Investment Partners LLC Trims Stake in ServiceNow, Inc. $NOW

WealthCare Investment Partners LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Strategic Advocates LLC increased its holdings in ServiceNow by 5.5% during the 2nd quarter. Strategic Advocates LLC now owns 2,966 shares of the information technology services provider’s stock worth $3,049,000 after purchasing an additional 155 shares during the period. Everpar Advisors LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at $331,000. Chemistry Wealth Management LLC purchased a new position in ServiceNow during the 2nd quarter worth $293,000. Braun Bostich & Associates Inc. purchased a new position in ServiceNow during the 2nd quarter worth $205,000. Finally, Webster Bank N. A. grew its stake in ServiceNow by 0.4% during the 2nd quarter. Webster Bank N. A. now owns 4,600 shares of the information technology services provider’s stock worth $4,729,000 after buying an additional 20 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider directly owned 457 shares of the company’s stock, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock valued at $17,049,775 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $948.28 on Tuesday. The business has a fifty day moving average of $925.62 and a two-hundred day moving average 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 stock has a market cap of $197.24 billion, a price-to-earnings ratio of 119.43, a price-to-earnings-growth 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) last posted 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 company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.13 earnings per share. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOW. Cantor Fitzgerald restated an “overweight” rating and set a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of ServiceNow in a report on Tuesday, July 8th. FBN Securities raised ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. Finally, Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,115.20.

About ServiceNow

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.