Keudell Morrison Wealth Management Has $752,000 Position in ServiceNow, Inc. (NYSE:NOW)

Keudell Morrison Wealth Management lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 841 shares of the information technology services provider’s stock after selling 53 shares during the period. Keudell Morrison Wealth Management’s holdings in ServiceNow were worth $752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in ServiceNow by 89,137.0% in 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 acquiring an additional 1,183,739 shares during the last quarter. Swedbank AB bought a new position in ServiceNow in the first quarter valued at approximately $897,908,000. Vanguard Group Inc. boosted its stake in ServiceNow by 1.8% in the first 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. AustralianSuper Pty Ltd bought a new position in ServiceNow in the second quarter valued at approximately $218,786,000. Finally, Acadian Asset Management LLC boosted its stake in ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after acquiring an additional 271,073 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. UBS Group upped their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JMP Securities upped their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Evercore ISI upped their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus upped their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Performance

Shares of NOW traded up $7.70 during mid-day trading on Thursday, hitting $1,002.18. 122,166 shares of the company’s stock were exchanged, compared to its average volume of 1,275,969. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $206.45 billion, a price-to-earnings ratio of 154.64, a price-to-earnings-growth ratio of 5.48 and a beta of 0.98. The stock’s 50-day simple moving average is $905.83 and its 200-day simple moving average is $809.18. ServiceNow, Inc. has a 52 week low of $615.54 and a 52 week high of $1,005.08.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the sale, the director now owns 10,767 shares in the company, valued at approximately $8,850,474. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the sale, the director now owns 10,767 shares in the company, valued at $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,457,924. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,343 shares of company stock worth $2,791,181. Corporate insiders own 0.25% of the company’s stock.

ServiceNow 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.