ServiceNow, Inc. (NYSE:NOW) Stock Position Raised by KPP Advisory Services LLC

KPP Advisory Services LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 42.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 955 shares of the information technology services provider's stock after purchasing an additional 285 shares during the period. KPP Advisory Services LLC's holdings in ServiceNow were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NOW. Quarry LP acquired a new position in ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the fourth quarter worth $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in ServiceNow during the 4th quarter valued at $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOW has been the subject of a number of analyst reports. Mizuho upped their price objective 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. Piper Sandler cut their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird increased their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Raymond James Financial dropped their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America reduced their price target on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,065.32.

ServiceNow Stock Performance

NOW traded up $12.12 during trading hours on Friday, hitting $1,023.56. The company's stock had a trading volume of 1,514,258 shares, compared to its average volume of 1,486,132. The company has a 50-day simple moving average of $985.61 and a 200 day simple moving average of $967.23. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $211.86 billion, a PE ratio of 139.07, a PEG ratio of 4.65 and a beta of 0.95. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $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 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

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.