696 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Kennedy Investment Group

Kennedy Investment Group purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 696 shares of the information technology services provider's stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors have also 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 acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $34,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

ServiceNow stock opened at $969.78 on Friday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The firm has a fifty day moving average of $964.42 and a 200-day moving average of $970.33. The firm has a market capitalization of $200.72 billion, a P/E ratio of 131.76, a PEG ratio of 4.48 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the firm earned $3.41 EPS. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on NOW. Piper Sandler cut their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada boosted their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, Mizuho boosted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 248 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the sale, the director now owns 10,643 shares of the company's stock, valued at $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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 directly owns 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

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.

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