Kera Capital Partners Inc. Has $979,000 Stock Position in ServiceNow, Inc. $NOW

Key Points

• Kera Capital Partners Inc. raised its stake in ServiceNow by 158% in Q2, now holding 952 shares valued at $979,000.
• Multiple brokerages have upgraded ServiceNow's stock ratings, with target prices increasing, including Bank of America raising it to $1,200.
• In its latest earnings report, ServiceNow reported $4.09 EPS, exceeding estimates by $0.52, with revenue of $3.22 billion, up 22.4% year-over-year.

Kera Capital Partners Inc. raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 158.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 952 shares of the information technology services provider's stock after acquiring an additional 583 shares during the period. Kera Capital Partners Inc.'s holdings in ServiceNow were worth $979,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the 1st quarter valued at approximately $26,000. Heck Capital Advisors LLC acquired a new position in ServiceNow in the 4th quarter valued at approximately $37,000. WASHINGTON TRUST Co raised its holdings in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares in the last quarter. Finally, Dagco Inc. acquired a new position in shares of ServiceNow in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOW. Raymond James Financial increased their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Bank of America increased their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Citigroup increased their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Monday, August 4th. Finally, Barclays set a $1,210.00 target price on ServiceNow in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,115.20.

ServiceNow Stock Down 0.9%

NYSE NOW opened at $930.04 on Friday. The firm has a market cap of $193.45 billion, a PE ratio of 117.13, a price-to-earnings-growth ratio of 4.23 and a beta of 0.91. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock's 50 day simple moving average is $927.34 and its 200 day simple moving average is $922.46. 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 (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 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 analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.13 EPS. As a group, sell-side 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, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares in the company, valued at $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company's stock.

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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