Keeler Thomas Management LLC Makes New $1.91 Million Investment in ServiceNow, Inc. $NOW

Keeler Thomas Management LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,859 shares of the information technology services provider’s stock, valued at approximately $1,911,000. ServiceNow accounts for about 0.8% of Keeler Thomas Management LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Wealth Preservation Advisors LLC acquired a new position in shares of ServiceNow during the 1st quarter valued at $382,000. Corient IA LLC bought a new position in ServiceNow during the first quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of ServiceNow in the first quarter worth about $1,820,000. ASR Vermogensbeheer N.V. acquired a new stake in ServiceNow during the first quarter worth about $19,278,000. Finally, Goldman Sachs Group Inc. boosted its holdings in ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Performance

NYSE NOW opened at $929.77 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $193.39 billion, a price-to-earnings ratio of 117.10, a P/E/G ratio of 4.23 and a beta of 0.92. The firm’s 50 day simple moving average is $917.85 and its 200 day simple moving average is $940.95. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

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

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Zacks Research upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, BMO Capital Markets upped their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,124.17.

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.