Kestra Advisory Services LLC Acquires 1,645 Shares of ServiceNow, Inc. $NOW

Key Points

• Kestra Advisory Services LLC increased its holdings in ServiceNow, Inc. by 11.6%, acquiring an additional 1,645 shares, bringing its total to 15,858 shares valued at approximately $12.63 million.
• ServiceNow received several upgrades from analysts, with new price targets set as high as $1,234, reflecting a positive consensus rating of "Moderate Buy" among analysts.
• Insider trading activity included sales by CFO Gina Mastantuono and insider Paul Fipps, with insiders collectively selling over 16,000 shares valued at nearly $14.81 million in the last three months.

Kestra Advisory Services LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,858 shares of the information technology services provider's stock after purchasing an additional 1,645 shares during the period. Kestra Advisory Services LLC's holdings in ServiceNow were worth $12,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of ServiceNow by 1.3% during the fourth quarter. Hancock Whitney Corp now owns 1,486 shares of the information technology services provider's stock valued at $1,575,000 after purchasing an additional 19 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of ServiceNow by 136.3% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 28,944 shares of the information technology services provider's stock valued at $30,684,000 after purchasing an additional 16,696 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of ServiceNow by 1.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,015 shares of the information technology services provider's stock valued at $6,377,000 after purchasing an additional 100 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its stake in shares of ServiceNow by 13.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 1,218 shares of the information technology services provider's stock valued at $1,291,000 after purchasing an additional 148 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NOW shares. Needham & Company LLC increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Stifel Nicolaus increased their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Citigroup increased their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and increased their price target for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares in the company, valued at $409,037.85. This represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,096 shares of company stock valued at $14,807,562 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Up 1.0%

Shares of NOW stock opened at $885.7930 on Friday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm's 50 day moving average is $955.00 and its 200 day moving average is $929.03. The stock has a market capitalization of $184.24 billion, a P/E ratio of 111.56, a P/E/G ratio of 4.00 and a beta of 0.93.

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

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.

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