Quantum Financial Planning Services Inc. Cuts Stock Holdings in ServiceNow, Inc. $NOW

Quantum Financial Planning Services Inc. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 275 shares of the information technology services provider’s stock after selling 60 shares during the period. Quantum Financial Planning Services Inc.’s holdings in ServiceNow were worth $283,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have recently commented on NOW. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Barclays set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Bank of America raised their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC raised their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

ServiceNow Price Performance

NOW opened at $888.63 on Friday. The company has a fifty day simple moving average of $909.21 and a 200 day simple moving average of $932.27. The firm has a market cap of $184.84 billion, a price-to-earnings ratio of 111.92, a PEG ratio of 4.00 and a beta of 0.92. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. 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 released its quarterly earnings results 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. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business’s revenue was up 22.4% on a year-over-year basis. During the same period last year, the business earned $3.13 EPS. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 over the last 90 days. Company insiders own 0.38% of the company’s stock.

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.