WealthCare Investment Partners LLC Sells 161 Shares of ServiceNow, Inc. (NYSE:NOW)

WealthCare Investment Partners LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,090 shares of the information technology services provider’s stock after selling 161 shares during the period. WealthCare Investment Partners LLC’s holdings in ServiceNow were worth $1,455,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Foundation Advisors lifted its stake in shares of ServiceNow by 2.1% in the second quarter. First Foundation Advisors now owns 5,292 shares of the information technology services provider’s stock worth $2,974,000 after acquiring an additional 108 shares during the period. First Hawaiian Bank lifted its position in shares of ServiceNow by 2.2% during the 3rd quarter. First Hawaiian Bank now owns 7,514 shares of the information technology services provider’s stock valued at $4,200,000 after acquiring an additional 165 shares during the period. Raymond James & Associates grew its stake in ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after acquiring an additional 18,442 shares during the period. F M Investments LLC acquired a new position in shares of ServiceNow during the third quarter valued at about $1,624,000. Finally, Treasurer of the State of North Carolina increased its holdings in ServiceNow by 2.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 91,705 shares of the information technology services provider’s stock worth $51,535,000 after purchasing an additional 1,920 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 2.6 %

NYSE:NOW traded down $19.97 during trading hours on Wednesday, reaching $758.60. 1,401,035 shares of the stock were exchanged, compared to its average volume of 1,237,888. ServiceNow, Inc. has a twelve month low of $427.01 and a twelve month high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $768.99 and a two-hundred day moving average of $679.61. The company has a market capitalization of $155.51 billion, a price-to-earnings ratio of 90.03, a PEG ratio of 4.93 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 6.11 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent analyst reports. Oppenheimer upped their target price on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Stifel Nicolaus reissued a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. Barclays boosted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Piper Sandler raised their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, Citigroup increased their target price on ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $762.96.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders sold 13,164 shares of company stock valued at $9,940,303. Insiders own 0.28% of the company’s stock.

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.