IHT Wealth Management LLC Acquires 27 Shares of ServiceNow, Inc. (NYSE:NOW)

IHT Wealth Management LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,378 shares of the information technology services provider’s stock after acquiring an additional 27 shares during the quarter. IHT Wealth Management LLC’s holdings in ServiceNow were worth $689,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. OLD Second National Bank of Aurora bought a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Manchester Financial Inc. raised its stake in ServiceNow by 685.7% in the first quarter. Manchester Financial Inc. now owns 55 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 48 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in ServiceNow by 56.8% in the first quarter. Reilly Financial Advisors LLC now owns 58 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 21 shares in the last quarter. Wolverine Asset Management LLC raised its stake in ServiceNow by 1,160.0% in the first quarter. Wolverine Asset Management LLC now owns 63 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 58 shares in the last quarter. Finally, Evolution Wealth Advisors LLC raised its stake in ServiceNow by 530.0% in the first quarter. Evolution Wealth Advisors LLC now owns 63 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 53 shares in the last quarter. 85.45% of the stock is owned by institutional investors.

A number of research analysts recently commented on the company. Needham & Company LLC dropped their price target on ServiceNow from $595.00 to $591.00 and set a “buy” rating for the company in a research note on Thursday, April 29th. Zacks Investment Research raised ServiceNow from a “sell” rating to a “hold” rating and set a $587.00 target price for the company in a research note on Wednesday, June 30th. JMP Securities boosted their target price on ServiceNow from $540.00 to $568.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 13th. Exane BNP Paribas assumed coverage on ServiceNow in a research note on Thursday, April 22nd. They set an “outperform” rating and a $680.00 target price for the company. Finally, Piper Sandler boosted their target price on ServiceNow from $550.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, July 9th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $613.32.

In other news, Director Frederic B. Luddy sold 16,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $464.58, for a total transaction of $7,665,570.00. Following the transaction, the director now directly owns 1,518 shares of the company’s stock, valued at $705,232.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 1,213 shares of the stock in a transaction on Monday, June 14th. The shares were sold at an average price of $500.00, for a total value of $606,500.00. Following the completion of the sale, the director now directly owns 7,819 shares of the company’s stock, valued at $3,909,500. The disclosure for this sale can be found here. Insiders have sold 35,207 shares of company stock worth $18,019,661 over the last ninety days. 1.00% of the stock is owned by insiders.

ServiceNow stock opened at $567.13 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.23 and a quick ratio of 1.23. ServiceNow, Inc. has a 52-week low of $414.60 and a 52-week high of $598.37. The stock’s 50 day simple moving average is $513.77. The company has a market cap of $111.98 billion, a PE ratio of 756.17, a price-to-earnings-growth ratio of 16.85 and a beta of 0.93.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 28th. The information technology services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.17. ServiceNow had a return on equity of 9.32% and a net margin of 3.15%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. ServiceNow’s revenue for the quarter was up 30.0% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 1.21 earnings per share for the current fiscal year.

ServiceNow Profile

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. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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