ORG Wealth Partners LLC Sells 209 Shares of ServiceNow, Inc. (NYSE:NOW)

ORG Wealth Partners LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 30.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 480 shares of the information technology services provider’s stock after selling 209 shares during the quarter. ORG Wealth Partners LLC’s holdings in ServiceNow were worth $389,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Compass Capital Corp MA ADV raised its stake in shares of ServiceNow by 1.1% in the first quarter. Compass Capital Corp MA ADV now owns 1,329 shares of the information technology services provider’s stock valued at $1,035,000 after buying an additional 14 shares during the period. HCR Wealth Advisors raised its stake in shares of ServiceNow by 3.2% during the 1st quarter. HCR Wealth Advisors now owns 3,264 shares of the information technology services provider’s stock valued at $2,599,000 after purchasing an additional 100 shares during the period. Guided Capital Wealth Management LLC raised its stake in shares of ServiceNow by 31.2% during the 1st quarter. Guided Capital Wealth Management LLC now owns 3,979 shares of the information technology services provider’s stock valued at $3,168,000 after purchasing an additional 947 shares during the period. Sterling Investment Counsel LLC raised its stake in shares of ServiceNow by 485.5% during the 1st quarter. Sterling Investment Counsel LLC now owns 1,780 shares of the information technology services provider’s stock valued at $1,417,000 after purchasing an additional 1,476 shares during the period. Finally, TCI Wealth Advisors Inc. raised its stake in shares of ServiceNow by 9.6% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,152 shares of the information technology services provider’s stock valued at $917,000 after purchasing an additional 101 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 2.4%

NOW opened at $980.29 on Thursday. The business has a 50 day simple moving average of $956.82 and a two-hundred day simple moving average of $972.45. The firm has a market capitalization of $202.90 billion, a price-to-earnings ratio of 133.19, a PEG ratio of 4.63 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. ServiceNow’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 428 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the sale, the director now owns 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock valued at $6,611,245. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NOW shares. Canaccord Genuity Group decreased their price objective on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Erste Group Bank upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 30th. Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Barclays set a $1,085.00 target price on ServiceNow in a research report on Wednesday, May 7th. Finally, Scotiabank set a $1,100.00 target price on ServiceNow and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.