ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 0.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,539 shares of the information technology services provider’s stock after purchasing an additional 166 shares during the period. Integrated Wealth Concepts LLC’s holdings in ServiceNow were worth $16,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. Investment Management Corp of Ontario grew its stake in ServiceNow by 91.1% during the 3rd quarter. Investment Management Corp of Ontario now owns 8,947 shares of the information technology services provider’s stock valued at $8,002,000 after purchasing an additional 4,264 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of ServiceNow by 353.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 16,795 shares of the information technology services provider’s stock worth $15,021,000 after acquiring an additional 13,095 shares during the last quarter. HighVista Strategies LLC acquired a new stake in ServiceNow during the third quarter valued at $1,520,000. Hilltop Holdings Inc. lifted its position in shares of ServiceNow by 427.6% in the third quarter. Hilltop Holdings Inc. now owns 3,408 shares of the information technology services provider’s stock worth $3,048,000 after buying an additional 2,762 shares during the last quarter. Finally, Ascent Group LLC increased its stake in shares of ServiceNow by 404.2% in the third quarter. Ascent Group LLC now owns 1,906 shares of the information technology services provider’s stock worth $1,705,000 after purchasing an additional 1,528 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,329 shares of company stock valued at $20,547,241 over the last ninety days. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOW. Canaccord Genuity Group boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. JMP Securities raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets increased their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $994.43.

ServiceNow Price Performance

Shares of NOW opened at $1,048.43 on Tuesday. The business has a 50-day simple moving average of $963.10 and a two-hundred day simple moving average of $847.50. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,072.84. The stock has a market cap of $215.98 billion, a PE ratio of 163.05, a PEG ratio of 6.02 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating 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 company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the business posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

About ServiceNow

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.