Tradition Wealth Management LLC Sells 20 Shares of ServiceNow, Inc. (NYSE:NOW)

Tradition Wealth Management LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 NOW. Versant Capital Management Inc raised its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. Truvestments Capital LLC acquired a new position in ServiceNow in the 3rd quarter valued at about $30,000. Ridgewood Investments LLC acquired a new stake in ServiceNow during the second quarter worth approximately $32,000. DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. Finally, American Capital Advisory LLC acquired a new position in shares of ServiceNow in the second quarter valued at approximately $39,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC lifted their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI boosted their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. UBS Group raised their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Mizuho boosted their price target on ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $989.07.

ServiceNow Price Performance

NOW stock opened at $1,049.44 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,072.84. The company has a market capitalization of $216.18 billion, a P/E ratio of 163.21, a PEG ratio of 6.02 and a beta of 0.98. The company has a fifty day moving average price of $963.10 and a 200-day moving average price of $847.50.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $2.75 billion. During the same period in the previous year, the business 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 expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

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.