ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,258 shares of the information technology services provider’s stock after acquiring an additional 15 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ServiceNow were worth $1,004,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in NOW. Quarry LP acquired a new position in ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. increased its stake in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new position in ServiceNow during the fourth quarter worth $34,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Down 2.4%

NOW stock opened at $980.29 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a market cap of $202.90 billion, a price-to-earnings ratio of 133.19, a PEG ratio of 4.53 and a beta of 0.95. The business has a fifty day simple moving average of $960.74 and a 200-day simple moving average of $971.98. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer now owns 6,614 shares of the company’s stock, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on NOW shares. Morgan Stanley upped their target price on ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. UBS Group reissued a “buy” rating and issued a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. TD Securities restated a “buy” rating and set a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. BMO Capital Markets upped their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, May 14th. Finally, Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.