WealthPlan Investment Management LLC cut its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 91.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 232 shares of the information technology services provider's stock after selling 2,470 shares during the quarter. WealthPlan Investment Management LLC's holdings in ServiceNow were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of NOW. Haverford Trust Co boosted its holdings in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock worth $936,000 after purchasing an additional 10 shares in the last quarter. Ascent Group LLC boosted its holdings in ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock worth $1,628,000 after purchasing an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. boosted its holdings in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after purchasing an additional 11 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after purchasing an additional 11 shares in the last quarter. Finally, one8zero8 LLC boosted its holdings in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after purchasing an additional 11 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares of the company's stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 in the last quarter. 0.38% of the stock is currently owned by insiders.
ServiceNow Stock Up 1.1%
NOW stock opened at $904.57 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a 50-day moving average of $910.30 and a two-hundred day moving average of $934.82. The stock has a market capitalization of $188.15 billion, a price-to-earnings ratio of 113.93, a price-to-earnings-growth ratio of 4.03 and a beta of 0.92.
ServiceNow (NYSE:NOW - Get Free Report) last released its 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. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter last year, the company earned $3.13 earnings per share. The firm's revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on NOW shares. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. BMO Capital Markets upped their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Citigroup upped their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Raymond James Financial upped their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,121.37.
View Our Latest Stock Analysis 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.
Further Reading
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).
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