Baker Tilly Wealth Management LLC Sells 200 Shares of ServiceNow, Inc. (NYSE:NOW)

Baker Tilly Wealth Management LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 33.2% during the 4th quarter, HoldingsChannel reports. The firm owned 403 shares of the information technology services provider’s stock after selling 200 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in ServiceNow were worth $427,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOW. World Investment Advisors LLC raised its holdings in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the period. International Assets Investment Management LLC boosted its position in shares of 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. Bank of Montreal Can raised its position in shares of 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 purchasing an additional 935,848 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the period. Finally, FMR LLC lifted its holdings in shares of ServiceNow by 9.9% during the third 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 during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the transaction, the director now owns 10,467 shares in the company, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock valued at $20,861,626 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Canaccord Genuity Group boosted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, December 20th. JMP Securities increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein increased their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,071.39.

ServiceNow Stock Down 2.4 %

NOW stock opened at $1,024.26 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $211.00 billion, a price-to-earnings ratio of 159.29, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The company has a fifty day moving average price of $1,064.01 and a 200 day moving average price of $921.78.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.03% and a net margin of 12.77%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.