ServiceNow, Inc. $NOW Shares Sold by One Wealth Capital Management LLC

Key Points

• One Wealth Capital Management LLC reduced its holdings in ServiceNow, Inc. by 35.7%, selling 425 shares to end the reporting period with a total of 767 shares valued at $611,000.
• ServiceNow's CFO, Gina Mastantuono, and Vice Chairman, Nicholas Tzitzon, both sold significant amounts of their shares, leading to decreases in their positions by 12.59% and 36.43%, respectively.
• Several analysts have upgraded their price targets for ServiceNow, with Wells Fargo increasing it to $1,225.00, while the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

One Wealth Capital Management LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 35.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 767 shares of the information technology services provider's stock after selling 425 shares during the period. One Wealth Capital Management LLC's holdings in ServiceNow were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new position in shares of ServiceNow in the first quarter worth $382,000. Janus Henderson Group PLC increased its stake in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after acquiring an additional 12,533 shares during the period. Corient IA LLC acquired a new stake in shares of ServiceNow in the first quarter worth $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow in the first quarter worth $1,820,000. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of ServiceNow in the first quarter worth $19,278,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOW. 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 note on Thursday, July 24th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. Needham & Company LLC increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. Finally, JMP Securities reissued a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,762 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the sale, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,976 shares of company stock worth $17,049,775. Insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $20.88 during trading hours on Thursday, reaching $898.50. 1,348,665 shares of the company's stock were exchanged, compared to its average volume of 1,711,520. The business has a fifty day moving average of $941.28 and a two-hundred day moving average of $924.12. 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 capitalization of $186.89 billion, a P/E ratio of 113.16, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company's revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.13 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.