WealthPLAN Partners LLC Sells 1,130 Shares of ServiceNow, Inc. $NOW

Key Points

• WealthPLAN Partners LLC significantly reduced its stake in ServiceNow, Inc. by 58.8%, selling 1,130 shares and holding 792 shares valued at approximately $814,000 at the end of the second quarter.
• ServiceNow reported quarterly earnings of $4.09 EPS, surpassing analysts' expectations, with revenue of $3.22 billion, up 22.4% year-over-year.
• Multiple analysts have raised their price targets for ServiceNow shares, with a consensus price target of $1,121.37, while maintaining a majority "buy" rating.

WealthPLAN Partners LLC lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 58.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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.

A number of other institutional investors have also recently bought and sold shares of NOW. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new stake in ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the period. Global X Japan Co. Ltd. bought a new stake in ServiceNow in the 2nd quarter valued at about $30,000. Finally, Dagco Inc. acquired a new position in shares of ServiceNow in the 1st quarter valued at approximately $33,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NOW stock opened at $902.22 on Thursday. The company has a 50 day simple moving average of $909.21 and a 200 day simple moving average of $933.51. The stock has a market cap of $187.66 billion, a price-to-earnings ratio of 113.63, a P/E/G ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. 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 (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during 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 firm's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.13 EPS. Research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the company's stock in a transaction that occurred on 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 transaction, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company's stock in a transaction that occurred on 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 transaction, the insider owned 3,000 shares of the company's stock, 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. Insiders sold 18,737 shares of company stock worth $16,798,825 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. Raymond James Financial upped their price target 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. Citigroup upped their price target 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. Guggenheim reaffirmed a "sell" rating and set a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. Wall Street Zen downgraded shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Wells Fargo & Company upped their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,121.37.

ServiceNow 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.

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