Wealth Management Partners LLC Decreases Holdings in ServiceNow, Inc. (NYSE:NOW)

Wealth Management Partners LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 598 shares of the information technology services provider’s stock after selling 19 shares during the quarter. Wealth Management Partners LLC’s holdings in ServiceNow were worth $634,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thrive Wealth Management LLC grew its stake in shares of ServiceNow by 4.5% in the fourth quarter. Thrive Wealth Management LLC now owns 416 shares of the information technology services provider’s stock valued at $441,000 after buying an additional 18 shares in the last quarter. Trueblood Wealth Management LLC increased its stake in ServiceNow by 17.3% during the 4th quarter. Trueblood Wealth Management LLC now owns 494 shares of the information technology services provider’s stock worth $524,000 after buying an additional 73 shares during the period. Diversify Wealth Management LLC lifted its holdings in ServiceNow by 0.6% in the 4th quarter. Diversify Wealth Management LLC now owns 6,531 shares of the information technology services provider’s stock worth $6,692,000 after buying an additional 42 shares in the last quarter. Annex Advisory Services LLC grew its stake in shares of ServiceNow by 18.8% during the fourth quarter. Annex Advisory Services LLC now owns 21,947 shares of the information technology services provider’s stock valued at $23,266,000 after acquiring an additional 3,471 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC acquired a new position in shares of ServiceNow in the fourth quarter worth about $842,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 1.4 %

Shares of ServiceNow stock opened at $1,072.02 on Monday. The business has a fifty day simple moving average of $1,069.67 and a 200-day simple moving average of $932.23. The firm has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

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

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,867 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the completion of the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $7,007,026.71. This represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last three months. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NOW has been the subject of several recent analyst reports. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a report on Friday. They set an “overweight” rating and a $1,332.00 price objective for the company. Mizuho lifted their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Truist Financial increased their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, Raymond James assumed coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,080.38.

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.