ServiceNow, Inc. (NYSE:NOW) Position Decreased by Baker Tilly Wealth Management LLC

by · The Cerbat Gem

Baker Tilly Wealth Management LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW – Free Report) by 34.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603 shares of the information technology services provider’s stock after selling 321 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in ServiceNow were worth $539,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NOW. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $1,203,157,000 after purchasing an additional 34,855 shares during the last quarter. Swedbank AB boosted its position in shares of ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after purchasing an additional 120,983 shares during the period. International Assets Investment Management LLC increased its stake in ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in ServiceNow by 21.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after buying an additional 168,734 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock worth $4,450,447 over the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOW. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Evercore ISI increased their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets lifted 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. Truist Financial increased their price objective on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $970.33.

Read Our Latest Stock Report on NOW

ServiceNow Price Performance

Shares of NYSE:NOW opened at $954.01 on Monday. The business’s 50 day moving average is $885.56 and its 200-day moving average is $797.66. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $195.57 billion, a PE ratio of 101.70, a PEG ratio of 5.04 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $558.09 and a 1-year high of $979.78.

ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

About ServiceNow

(Free Report)

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.

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