ServiceNow, Inc. (NYSE:NOW) Position Boosted by IHT Wealth Management LLC

IHT Wealth Management LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 30.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,827 shares of the information technology services provider’s stock after purchasing an additional 425 shares during the period. IHT Wealth Management LLC’s holdings in ServiceNow were worth $690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NOW. Polen Capital Management LLC lifted its holdings in shares of ServiceNow by 26.5% during the 3rd quarter. Polen Capital Management LLC now owns 3,953,299 shares of the information technology services provider’s stock valued at $1,492,805,000 after buying an additional 827,285 shares during the last quarter. Tiger Global Management LLC lifted its holdings in shares of ServiceNow by 51.8% during the 3rd quarter. Tiger Global Management LLC now owns 1,694,117 shares of the information technology services provider’s stock valued at $639,716,000 after buying an additional 577,933 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 16,866,914 shares of the information technology services provider’s stock valued at $6,369,116,000 after buying an additional 320,130 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of ServiceNow by 37.9% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 890,775 shares of the information technology services provider’s stock valued at $423,581,000 after buying an additional 244,958 shares during the last quarter. Finally, Stockbridge Partners LLC lifted its holdings in shares of ServiceNow by 79.6% during the 1st quarter. Stockbridge Partners LLC now owns 483,554 shares of the information technology services provider’s stock valued at $269,286,000 after buying an additional 214,243 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 2,483 shares of ServiceNow stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $455.03, for a total transaction of $1,129,831.05. Following the completion of the sale, the chief executive officer now directly owns 53,117 shares of the company’s stock, valued at approximately $24,169,647.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 2,483 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $455.03, for a total transaction of $1,129,831.05. Following the transaction, the chief executive officer now owns 53,117 shares in the company, valued at approximately $24,169,647.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 704 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $456.35, for a total value of $321,268.43. Following the transaction, the chief executive officer now owns 52,413 shares in the company, valued at approximately $23,918,525.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,016 shares of company stock valued at $28,805,543. Insiders own 0.28% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $441.00 on Friday. The stock has a market cap of $89.52 billion, a price-to-earnings ratio of 275.63, a PEG ratio of 5.66 and a beta of 1.03. The business has a 50 day moving average of $439.00 and a 200-day moving average of $412.18. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. ServiceNow, Inc. has a 12-month low of $337.00 and a 12-month high of $601.62.

ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.28. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. ServiceNow had a return on equity of 9.37% and a net margin of 4.49%. On average, equities research analysts expect that ServiceNow, Inc. will post 2.64 earnings per share for the current year.

Wall Street Analyst Weigh In

NOW has been the subject of several analyst reports. Piper Sandler boosted their target price on ServiceNow from $500.00 to $525.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Barclays reduced their target price on ServiceNow from $496.00 to $495.00 and set an “overweight” rating for the company in a report on Thursday, January 26th. Oppenheimer boosted their target price on ServiceNow from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. Canaccord Genuity Group boosted their target price on ServiceNow from $460.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday, January 26th. Finally, JPMorgan Chase & Co. boosted their target price on ServiceNow from $485.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.47.

ServiceNow Profile

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.