KPP Advisory Services LLC Acquires 78 Shares of ServiceNow, Inc. $NOW

KPP Advisory Services LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.2% in the second quarter, HoldingsChannel.com reports. The fund owned 1,033 shares of the information technology services provider’s stock after buying an additional 78 shares during the quarter. KPP Advisory Services LLC’s holdings in ServiceNow were worth $1,062,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after acquiring an additional 297,734 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of ServiceNow by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after purchasing an additional 188,292 shares during the last quarter. Nuveen LLC purchased a new position in shares of ServiceNow during the first quarter valued at about $1,817,535,000. Alliancebernstein L.P. increased its holdings in shares of ServiceNow by 16.2% in the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock worth $1,379,461,000 after purchasing an additional 242,132 shares during the last quarter. Finally, Amundi lifted its position in shares of ServiceNow by 61.9% in the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after buying an additional 626,623 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the sale, the insider directly owned 3,027 shares in the company, valued at $2,622,744.15. This trade represents a 34.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research note on Saturday, September 27th. DA Davidson lifted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. Jefferies Financial Group upped their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,122.20.

ServiceNow Stock Up 0.2%

Shares of NYSE NOW opened at $911.75 on Monday. The stock has a 50 day moving average price of $914.67 and a 200 day moving average price of $930.67. The firm has a market capitalization of $189.64 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. 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 (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.13 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.