ORG Partners LLC Sells 586 Shares of ServiceNow, Inc. (NYSE:NOW)

ORG Partners LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 80.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138 shares of the information technology services provider’s stock after selling 586 shares during the period. ORG Partners LLC’s holdings in ServiceNow were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at $25,000. Versant Capital Management Inc boosted its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new position in ServiceNow during the second quarter worth about $32,000. Finally, TFC Financial Management Inc. lifted its holdings in shares of ServiceNow by 466.7% in the first quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $927.96 on Wednesday. The firm has a market capitalization of $190.23 billion, a P/E ratio of 99.25, a P/E/G ratio of 5.63 and a beta of 0.99. The firm’s 50-day moving average price is $867.13 and its 200-day moving average price is $788.88. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $949.59.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the business earned $0.77 EPS. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. KeyCorp dropped their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. Guggenheim reaffirmed a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Piper Sandler lifted their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $880.04.

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.