Tradition Wealth Management LLC Has $661,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

Tradition Wealth Management LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 739 shares of the information technology services provider’s stock after selling 20 shares during the quarter. Tradition Wealth Management LLC’s holdings in ServiceNow were worth $661,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares during the last quarter. Bank of Montreal Can lifted its position in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after acquiring an additional 935,848 shares in the last quarter. FMR LLC increased its holdings in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of ServiceNow by 917.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 310,754 shares of the information technology services provider’s stock worth $277,935,000 after purchasing an additional 280,210 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in shares of ServiceNow in the second quarter valued at approximately $218,786,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,329 shares of company stock worth $20,547,241. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $1,049.44 on Monday. 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 cap of $216.18 billion, a price-to-earnings ratio of 163.21, a price-to-earnings-growth ratio of 6.02 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. The company has a 50-day moving average price of $963.10 and a 200-day moving average price of $847.50.

ServiceNow (NYSE:NOW) 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 analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $1.21 EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays lifted their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Robert W. Baird increased their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Mizuho lifted their price target on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, TD Cowen raised their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $989.07.

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.