ServiceNow, Inc. (NYSE:NOW) Stock Position Boosted by ORG Partners LLC

ORG Partners LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 15.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 159 shares of the information technology services provider’s stock after acquiring an additional 21 shares during the period. ORG Partners LLC’s holdings in ServiceNow were worth $169,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Polymer Capital Management HK LTD raised its holdings in ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares in the last quarter. AXA S.A. raised its stake in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after buying an additional 4,271 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after buying an additional 138 shares during the period. Venturi Wealth Management LLC boosted its stake in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after buying an additional 765 shares in the last quarter. Finally, HWG Holdings LP acquired a new position in ServiceNow during the second quarter worth about $2,679,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock worth $20,861,626 in the last quarter. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Down 2.4 %

ServiceNow stock opened at $1,024.26 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company’s fifty day moving average price is $1,064.01 and its two-hundred day moving average price is $922.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $211.00 billion, a price-to-earnings ratio of 159.29, a PEG ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Oppenheimer raised their price objective on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank initiated coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

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.