Knights of Columbus Asset Advisors LLC Has $4.60 Million Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Knights of Columbus Asset Advisors LLC reduced its holdings in ServiceNow, Inc. by 31.2% in the 2nd quarter, with current holdings valued at $4.60 million.
• ServiceNow's recent quarterly earnings exceeded expectations, reporting $4.09 earnings per share and revenue of $3.22 billion.
• Analysts maintain a positive outlook on ServiceNow, with many ratings upgraded and a target price increase from various firms, reflecting an average target of $1,122.20.

Knights of Columbus Asset Advisors LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 31.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,472 shares of the information technology services provider's stock after selling 2,029 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in ServiceNow were worth $4,598,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in ServiceNow during the first quarter worth approximately $382,000. Corient IA LLC bought a new stake in ServiceNow in the 1st quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC bought a new position in ServiceNow during the 1st quarter worth $1,820,000. Goldman Sachs Group Inc. raised its holdings in ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after acquiring an additional 840,731 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of ServiceNow during the 1st quarter valued at $19,278,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 0.2%

Shares of NYSE NOW opened at $911.75 on Monday. The stock has a market cap of $189.64 billion, a P/E ratio of 114.83, a price-to-earnings-growth ratio of 4.11 and a beta of 0.92. The firm has a 50 day moving average price of $914.67 and a two-hundred day moving average price of $930.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

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

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NOW shares. Weiss Ratings restated a "hold (c)" rating on shares of ServiceNow in a research report on Saturday, September 27th. Mizuho boosted their target price 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. Bank of America upped their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Raymond James Financial lifted their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, DA Davidson upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,122.20.

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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