KPP Advisory Services LLC Purchases 43 Shares of ServiceNow, Inc. (NYSE:NOW)

KPP Advisory Services LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 681 shares of the information technology services provider’s stock after purchasing an additional 43 shares during the period. KPP Advisory Services LLC’s holdings in ServiceNow were worth $609,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Creekmur Asset Management LLC bought a new stake in ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc grew its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $32,000. Finally, DT Investment Partners LLC grew its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 33.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,325 shares of company stock worth $5,024,928 in the last three months. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW traded down $28.41 during midday trading on Friday, hitting $1,011.39. The company’s stock had a trading volume of 1,498,472 shares, compared to its average volume of 1,281,121. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,061.66. The stock has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98. The company’s fifty day simple moving average is $932.47 and its two-hundred day simple moving average is $823.24.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NOW shares. Stifel Nicolaus increased their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. JMP Securities raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Needham & Company LLC boosted their target price on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $900.00 to $960.00 in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $974.04.

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.