Kingsview Wealth Management LLC Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Kingsview Wealth Management LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,638 shares of the information technology services provider’s stock after purchasing an additional 196 shares during the period. Kingsview Wealth Management LLC’s holdings in ServiceNow were worth $2,359,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in shares of ServiceNow by 23.4% during the third quarter. Cerity Partners LLC now owns 91,508 shares of the information technology services provider’s stock worth $81,843,000 after purchasing an additional 17,382 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in shares of ServiceNow by 0.9% during the third quarter. Great Valley Advisor Group Inc. now owns 8,154 shares of the information technology services provider’s stock worth $7,293,000 after purchasing an additional 76 shares during the period. Nicolet Advisory Services LLC boosted its holdings in shares of ServiceNow by 39.9% during the third quarter. Nicolet Advisory Services LLC now owns 1,014 shares of the information technology services provider’s stock worth $903,000 after purchasing an additional 289 shares during the period. Leelyn Smith LLC boosted its holdings in shares of ServiceNow by 2.3% during the third quarter. Leelyn Smith LLC now owns 2,506 shares of the information technology services provider’s stock worth $2,241,000 after purchasing an additional 56 shares during the period. Finally, Stonebrook Private Inc. boosted its holdings in shares of ServiceNow by 7.5% during the third quarter. Stonebrook Private Inc. now owns 515 shares of the information technology services provider’s stock worth $461,000 after purchasing an additional 36 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Robert W. Baird raised their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. KeyCorp raised their price objective on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $989.07.

Insider Transactions at ServiceNow

In related news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,787 shares of company stock worth $17,841,028 in the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 0.7 %

Shares of ServiceNow stock opened at $1,052.82 on Tuesday. The company’s fifty day simple moving average is $951.73 and its 200-day simple moving average is $838.61. The stock has a market capitalization of $216.88 billion, a PE ratio of 163.74, a P/E/G ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,068.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

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

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.