KPP Advisory Services LLC Buys 78 Shares of ServiceNow, Inc. $NOW

KPP Advisory Services LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 8.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,033 shares of the information technology services provider’s stock after buying an additional 78 shares during the quarter. KPP Advisory Services LLC’s holdings in ServiceNow were worth $1,062,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NOW. Wealth Preservation Advisors LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at about $382,000. Corient IA LLC purchased a new stake in ServiceNow in the first quarter valued at approximately $796,000. Parr Mcknight Wealth Management Group LLC bought a new stake in ServiceNow during the first quarter valued at approximately $1,820,000. Goldman Sachs Group Inc. grew its stake in ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of ServiceNow in the 1st quarter worth $19,278,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NOW. Guggenheim reissued a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. Morgan Stanley upgraded ServiceNow from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Raymond James Financial boosted their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Jefferies Financial Group upped their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, UBS Group cut their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s 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 completion of the sale, the general counsel owned 4,332 shares of the company’s stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 over the last ninety days. 0.38% of the stock is owned by insiders.

ServiceNow Price Performance

NOW stock opened at $911.75 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a 50-day moving average of $914.67 and a 200 day moving average of $930.67. The company has a market cap of $189.64 billion, a P/E ratio of 114.83, a PEG ratio of 4.11 and a beta of 0.92.

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

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.