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

Keudell Morrison Wealth Management lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. M&G Plc acquired a new position in shares of ServiceNow during the first quarter worth $11,030,000. AXA S.A. raised its stake in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after buying an additional 4,271 shares during the last quarter. HWG Holdings LP bought a new position in ServiceNow during the second quarter worth $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after buying an additional 1,078 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its stake in ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW traded up $7.70 during midday trading on Thursday, reaching $1,002.18. The company had a trading volume of 122,166 shares, compared to its average volume of 1,275,969. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $206.45 billion, a PE ratio of 154.64, a P/E/G ratio of 5.48 and a beta of 0.98. ServiceNow, Inc. has a 12-month low of $615.54 and a 12-month high of $1,005.08. The business has a 50-day moving average price of $905.83 and a two-hundred day moving average price of $809.18.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOW. Robert W. Baird lifted their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets lifted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Oppenheimer lifted their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 135 shares of the business’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 of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Paul Edward Chamberlain sold 135 shares of the business’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 of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 804 shares of the business’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 directly owns 3,027 shares in the company, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,343 shares of company stock valued at $2,791,181 over the last quarter. Company insiders own 0.25% of the company’s stock.

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.