ORG Partners LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

ORG Partners LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1,623.8% during the second quarter, HoldingsChannel.com reports. The fund owned 724 shares of the information technology services provider’s stock after buying an additional 682 shares during the quarter. ORG Partners LLC’s holdings in ServiceNow were worth $571,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow during the first quarter worth $25,000. Versant Capital Management Inc grew its holdings in shares of ServiceNow by 466.7% during 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 during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the fourth quarter valued at $29,000. EntryPoint Capital LLC grew its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the last quarter. Finally, Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow during the fourth quarter valued at $35,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp lowered their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Wolfe Research reiterated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Stifel Nicolaus raised their price target on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Morgan Stanley raised their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $842.22.

ServiceNow Stock Up 1.3 %

Shares of NOW traded up $10.72 during midday trading on Thursday, reaching $829.74. The stock had a trading volume of 169,191 shares, compared to its average volume of 1,319,219. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $850.33. The company’s fifty day simple moving average is $765.31 and its two-hundred day simple moving average is $756.61. The company has a market cap of $170.10 billion, a price-to-earnings ratio of 87.60, a PEG ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the business earned $0.77 EPS. The company’s revenue was up 22.2% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders have sold 9,943 shares of company stock worth $7,566,635 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

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.