Revolve Wealth Partners LLC Sells 16 Shares of ServiceNow, Inc. $NOW

Revolve Wealth Partners LLC reduced its position in ServiceNow, Inc. (NYSE:NOW) by 1.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 907 shares of the information technology services provider’s stock after selling 16 shares during the period. Revolve Wealth Partners LLC’s holdings in ServiceNow were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Global X Japan Co. Ltd. bought a new stake in ServiceNow during the second quarter valued at $30,000. Bogart Wealth LLC lifted its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in ServiceNow during the 1st quarter valued at approximately $26,000. Richardson Financial Services Inc. raised its position in ServiceNow by 50.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 11 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $923.44 on Tuesday. The company has a market cap of $192.07 billion, a PE ratio of 116.30, a PEG ratio of 4.00 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The business’s fifty day simple moving average is $909.24 and its 200-day simple moving average is $933.88.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $3.13 earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares in the company, valued at $409,037.85. This trade represents a 76.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NOW. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. DA Davidson raised their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Guggenheim reissued a “sell” rating and set a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. UBS Group reduced their target price on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Finally, Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

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.