586 Shares in ServiceNow, Inc. $NOW Acquired by Kaufman Rossin Wealth LLC

Key Points

• Kaufman Rossin Wealth LLC acquired 586 shares of ServiceNow, Inc. valued at approximately $467,000, marking a new investment in the company.
• Several large institutional investors, including Partners Capital Investment Group LLP and Geo Capital Gestora de Recursos Ltd, significantly increased their holdings in ServiceNow during the first quarter.
• ServiceNow reported better-than-expected quarterly earnings with $4.09 earnings per share and revenue of $3.22 billion, beating analyst estimates and reflecting a 22.4% increase year-over-year.

Kaufman Rossin Wealth LLC 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 filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 586 shares of the information technology services provider's stock, valued at approximately $467,000.

Several other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC boosted its position in 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 worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. Nuveen LLC purchased a new position in ServiceNow in the first quarter worth $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in ServiceNow by 1,586.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock worth $742,965,000 after purchasing an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in ServiceNow by 131.4% in the first 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 purchasing an additional 840,731 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in 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 worth $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. FBN Securities raised ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Mizuho boosted their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Stifel Nicolaus boosted their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and upped their price target for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average target price of $1,115.20.

ServiceNow Price Performance

NOW traded up $8.8230 during trading on Friday, reaching $885.7930. 1,083,474 shares of the company were exchanged, compared to its average volume of 1,866,238. The company's 50-day moving average is $955.00 and its two-hundred day moving average is $929.03. The company has a market cap of $184.24 billion, a price-to-earnings ratio of 111.56, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

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

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the sale, the chief financial officer owned 12,228 shares of the company's stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 1,585 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $900.00, for a total value of $1,426,500.00. Following the completion of the sale, the chief executive officer directly owned 12,439 shares in the company, valued at approximately $11,195,100. The trade was a 11.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,096 shares of company stock worth $14,807,562. 0.38% of the stock is owned by insiders.

ServiceNow 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.