Keyvantage Wealth LLC Purchases 47 Shares of ServiceNow, Inc. (NYSE:NOW)

Keyvantage Wealth LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 16.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334 shares of the information technology services provider’s stock after acquiring an additional 47 shares during the period. Keyvantage Wealth LLC’s holdings in ServiceNow were worth $266,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after buying an additional 509,467 shares during the period. FMR LLC lifted its stake in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after buying an additional 272,506 shares during the period. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after buying an additional 100,670 shares during the period. GAMMA Investing LLC lifted its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of ServiceNow by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider’s stock valued at $2,814,433,000 after buying an additional 87,876 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $968.05 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.12. The firm has a market cap of $200.37 billion, a P/E ratio of 121.92, a P/E/G ratio of 4.43 and a beta of 0.94. The firm has a 50 day simple moving average of $1,000.33 and a 200 day simple moving average of $952.52. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $3.13 earnings per share. ServiceNow’s revenue for the quarter was up 22.4% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the completion of the sale, the insider owned 3,027 shares of the company’s stock, valued at approximately $3,087,540. The trade was a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at $4,431,636. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,003 shares of company stock worth $6,015,106. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research note on Wednesday. Guggenheim reissued a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank Of Canada upped their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Finally, Bank of America upped their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,114.87.

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.