KG&L Capital Management LLC Buys New Shares in ServiceNow, Inc. (NYSE:NOW)

KG&L Capital Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,138 shares of the information technology services provider's stock, valued at approximately $906,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in shares of ServiceNow by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after purchasing an additional 12,533 shares during the last quarter. FMR LLC grew its holdings in shares of ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Duncker Streett & Co. Inc. grew its holdings in shares of ServiceNow by 4.8% in the 4th quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider's stock worth $6,759,000 after purchasing an additional 290 shares during the last quarter. Nicholas Investment Partners LP grew its holdings in shares of ServiceNow by 223.5% in the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after purchasing an additional 1,938 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ServiceNow by 18.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider's stock worth $209,103,000 after purchasing an additional 31,125 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Raymond James Financial decreased their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Evercore ISI increased their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, DA Davidson assumed coverage on shares of ServiceNow in a report on Wednesday. They set a "buy" rating and a $1,150.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,065.32.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 62 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,431,636. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Trading Up 1.2%

Shares of NYSE:NOW traded up $12.12 during mid-day trading on Friday, reaching $1,023.56. The stock had a trading volume of 1,514,258 shares, compared to its average volume of 1,485,185. The firm has a market cap of $211.86 billion, a PE ratio of 139.07, a price-to-earnings-growth ratio of 4.70 and a beta of 0.96. The firm has a 50 day simple moving average of $985.61 and a two-hundred day simple moving average of $964.70. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

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