IHT Wealth Management LLC Boosts Position in ServiceNow Inc (NYSE:NOW)

IHT Wealth Management LLC lifted its holdings in shares of ServiceNow Inc (NYSE:NOW) by 19.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,273 shares of the information technology services provider’s stock after acquiring an additional 206 shares during the quarter. IHT Wealth Management LLC’s holdings in ServiceNow were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in NOW. Delta Asset Management LLC TN purchased a new position in ServiceNow during the 3rd quarter valued at $25,000. San Francisco Sentry Investment Group CA raised its holdings in ServiceNow by 650.0% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 91 shares in the last quarter. Motco purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $33,000. AdvisorNet Financial Inc purchased a new stake in shares of ServiceNow in the 3rd quarter worth about $31,000. Finally, North Star Investment Management Corp. bought a new stake in shares of ServiceNow during the 3rd quarter valued at about $32,000. Institutional investors own 91.49% of the company’s stock.

Shares of ServiceNow stock opened at $277.35 on Tuesday. The company’s fifty day simple moving average is $257.70 and its 200-day simple moving average is $267.81. The stock has a market capitalization of $53.07 billion, a PE ratio of 707.60, a P/E/G ratio of 20.55 and a beta of 1.34. ServiceNow Inc has a 1-year low of $158.00 and a 1-year high of $303.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.05 and a quick ratio of 1.05.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.81. The firm had revenue of $885.80 million during the quarter, compared to the consensus estimate of $885.53 million. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. As a group, research analysts anticipate that ServiceNow Inc will post 0.49 EPS for the current year.

In other news, CEO William R. Mcdermott bought 3,600 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $278.93 per share, with a total value of $1,004,148.00. Following the acquisition, the chief executive officer now owns 3,600 shares of the company’s stock, valued at approximately $1,004,148. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Schneider sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $283.50, for a total transaction of $1,417,500.00. Following the sale, the insider now owns 46,845 shares in the company, valued at approximately $13,280,557.50. The disclosure for this sale can be found here. Insiders have sold 63,693 shares of company stock worth $16,645,095 over the last quarter. 1.00% of the stock is owned by company insiders.

A number of research firms recently issued reports on NOW. BTIG Research increased their price target on shares of ServiceNow to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. SunTrust Banks assumed coverage on shares of ServiceNow in a report on Wednesday, October 2nd. They issued a “buy” rating and a $321.00 price objective for the company. BMO Capital Markets cut their price objective on ServiceNow from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank reduced their target price on ServiceNow from $305.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada decreased their target price on ServiceNow to $286.00 and set a “top pick” rating for the company in a research report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $290.45.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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