George Kaiser Family Foundation Boosts Stake in ServiceNow, Inc. $NOW

Key Points

• The George Kaiser Family Foundation increased its stake in ServiceNow, Inc. by 5.4%, acquiring an additional 311 shares to own a total of 6,074 shares, valued at approximately $4.83 million.
• ServiceNow received several upgrades from analysts, with FBN Securities rating it as a "strong-buy" and various firms increasing their price targets significantly.
• Insider activity included sales by executives, with insiders selling a total of 5,738 shares worth nearly $5.71 million in the last three months.

George Kaiser Family Foundation lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,074 shares of the information technology services provider's stock after purchasing an additional 311 shares during the period. ServiceNow accounts for approximately 0.7% of George Kaiser Family Foundation's portfolio, making the stock its 7th biggest holding. George Kaiser Family Foundation's holdings in ServiceNow were worth $4,836,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NOW. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares during the period. Forum Financial Management LP increased its stake in shares of ServiceNow by 52.7% in the fourth quarter. Forum Financial Management LP now owns 806 shares of the information technology services provider's stock worth $855,000 after purchasing an additional 278 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ServiceNow by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 287,180 shares of the information technology services provider's stock worth $304,454,000 after purchasing an additional 9,748 shares during the period. Curi RMB Capital LLC increased its stake in ServiceNow by 19.1% during the fourth quarter. Curi RMB Capital LLC now owns 1,525 shares of the information technology services provider's stock valued at $1,617,000 after acquiring an additional 245 shares during the period. Finally, Coastline Trust Co increased its stake in ServiceNow by 286.7% during the fourth quarter. Coastline Trust Co now owns 58 shares of the information technology services provider's stock valued at $61,000 after acquiring an additional 43 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Raymond James Financial boosted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Stifel Nicolaus boosted their price target on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. UBS Group lowered their price target on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Finally, Citigroup boosted their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research note 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow Price Performance

Shares of NOW traded up $2.5420 on Wednesday, hitting $889.3220. The company's stock had a trading volume of 1,270,070 shares, compared to its average volume of 1,715,718. The company has a market capitalization of $184.98 billion, a PE ratio of 112.10, a PEG ratio of 4.02 and a beta of 0.93. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a 50 day moving average price of $961.85 and a 200 day moving average price of $931.84. 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. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 280 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $851.77, for a total transaction of $238,495.60. Following the sale, the insider directly owned 4,654 shares in the company, valued at $3,964,137.58. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 1,562 shares of the 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 $1,353,394.90. Following the sale, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,361 shares of company stock worth $10,579,976 over the last 90 days. Company 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.