IHT Wealth Management LLC Has $4.74 Million Stake in ServiceNow, Inc. (NYSE:NOW)

IHT Wealth Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 29.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,328 shares of the information technology services provider's stock after buying an additional 1,211 shares during the period. IHT Wealth Management LLC's holdings in ServiceNow were worth $4,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC boosted its position in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock worth $5,014,302,000 after buying an additional 502,845 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ServiceNow by 4.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,566,949 shares of the information technology services provider's stock worth $2,295,854,000 after purchasing an additional 112,380 shares in the last quarter. Fisher Asset Management LLC raised its holdings in ServiceNow by 3.5% during the third quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider's stock worth $1,487,343,000 after purchasing an additional 56,830 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in ServiceNow by 11.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider's stock worth $1,449,178,000 after purchasing an additional 167,847 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider's stock worth $1,203,157,000 after purchasing an additional 34,855 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

NYSE:NOW traded up $67.04 during mid-day trading on Wednesday, hitting $1,124.36. The company's stock had a trading volume of 1,471,194 shares, compared to its average volume of 1,280,717. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,124.47. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $231.62 billion, a price-to-earnings ratio of 164.33, a P/E/G ratio of 6.02 and a beta of 0.99. The stock has a fifty day moving average of $968.22 and a 200-day moving average of $851.60.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NOW. UBS Group boosted their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. BMO Capital Markets upped their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. Morgan Stanley cut ServiceNow from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $900.00 to $960.00 in a report on Monday, October 21st. Sanford C. Bernstein upped their price target on ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, Piper Sandler upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and an average target price of $999.07.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by insiders.

About ServiceNow

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.