ServiceNow, Inc. (NYSE:NOW) Shares Acquired by L.M. Kohn & Company

L.M. Kohn & Company boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,942 shares of the information technology services provider’s stock after buying an additional 21 shares during the period. L.M. Kohn & Company’s holdings in ServiceNow were worth $1,546,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TBH Global Asset Management LLC increased its holdings in shares of ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after acquiring an additional 11 shares during the period. Onefund LLC boosted its position in shares of ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after buying an additional 11 shares during the period. Cassady Schiller Wealth Management LLC boosted its position in shares of ServiceNow by 44.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock worth $38,000 after buying an additional 11 shares during the period. Plancorp LLC grew its holdings in ServiceNow by 4.1% in the 4th quarter. Plancorp LLC now owns 308 shares of the information technology services provider’s stock worth $327,000 after buying an additional 12 shares in the last quarter. Finally, Kesler Norman & Wride LLC increased its position in ServiceNow by 1.2% in the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider’s stock valued at $1,157,000 after acquiring an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction 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 approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Down 2.4%

Shares of NYSE:NOW opened at $980.29 on Friday. The firm has a 50 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. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $202.90 billion, a PE ratio of 133.19, a price-to-earnings-growth ratio of 4.53 and a beta of 0.95.

ServiceNow (NYSE:NOW) last released its 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 company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Robert W. Baird boosted their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Piper Sandler lowered their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities restated a “buy” rating and issued a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,062.50.

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.