KLCM Advisors Inc. Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

KLCM Advisors Inc. bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,848 shares of the information technology services provider’s stock, valued at approximately $1,306,000.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of ServiceNow during the fourth quarter worth $872,202,000. Moneta Group Investment Advisors LLC increased its position in shares of ServiceNow by 69,897.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after acquiring an additional 854,846 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after acquiring an additional 820,465 shares in the last quarter. FMR LLC increased its position in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after acquiring an additional 595,697 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of ServiceNow by 129.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after acquiring an additional 560,908 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $8.97 during mid-day trading on Wednesday, reaching $744.78. 1,085,831 shares of the company were exchanged, compared to its average volume of 904,049. The company’s 50-day simple moving average is $768.63 and its 200-day simple moving average is $700.17. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $152.96 billion, a P/E ratio of 88.56, a P/E/G ratio of 4.65 and a beta of 0.97. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. BMO Capital Markets increased their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Oppenheimer increased their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday. Truist Financial increased their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Guggenheim restated a “neutral” rating on shares of ServiceNow in a report on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $780.00.

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.