OMNI 360 Wealth Inc. Sells 16 Shares of ServiceNow, Inc. $NOW

OMNI 360 Wealth Inc. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 342 shares of the information technology services provider’s stock after selling 16 shares during the quarter. OMNI 360 Wealth Inc.’s holdings in ServiceNow were worth $352,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOW. Bogart Wealth LLC increased its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow in the first quarter worth $26,000. WASHINGTON TRUST Co increased its holdings in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares during the period. Dagco Inc. bought a new position in shares of ServiceNow in the first quarter worth $33,000. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the fourth quarter worth $37,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 0.9%

Shares of NYSE:NOW opened at $930.04 on Friday. The stock’s 50-day moving average price is $927.34 and its 200-day moving average price is $922.33. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The stock has a market capitalization of $193.45 billion, a P/E ratio of 117.13, a price-to-earnings-growth ratio of 4.23 and a beta of 0.91. 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 (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm earned $3.13 earnings per share. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on NOW. Piper Sandler increased their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Jefferies Financial Group increased their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of ServiceNow in a research note on Tuesday, July 8th. Finally, FBN Securities raised ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,115.20.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated 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 sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock valued at $17,049,775 in the last quarter. 0.38% of the stock is currently owned by company 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.