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

Kingsview Wealth Management LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,357 shares of the information technology services provider’s stock after purchasing an additional 31 shares during the period. Kingsview Wealth Management LLC’s holdings in ServiceNow were worth $890,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Merit Financial Group LLC lifted its holdings in shares of ServiceNow by 1.1% in the third quarter. Merit Financial Group LLC now owns 2,356 shares of the information technology services provider’s stock valued at $890,000 after purchasing an additional 25 shares in the last quarter. Linscomb & Williams Inc. lifted its holdings in shares of ServiceNow by 2.2% in the second quarter. Linscomb & Williams Inc. now owns 1,209 shares of the information technology services provider’s stock valued at $575,000 after purchasing an additional 26 shares in the last quarter. SWS Partners lifted its holdings in shares of ServiceNow by 0.6% in the third quarter. SWS Partners now owns 4,753 shares of the information technology services provider’s stock valued at $1,795,000 after purchasing an additional 28 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of ServiceNow by 9.0% in the first quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after purchasing an additional 29 shares in the last quarter. Finally, Canandaigua National Corp lifted its holdings in shares of ServiceNow by 0.8% in the third quarter. Canandaigua National Corp now owns 3,601 shares of the information technology services provider’s stock valued at $1,360,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,483 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $455.03, for a total transaction of $1,129,831.05. Following the completion of the sale, the chief executive officer now directly owns 53,117 shares of the company’s stock, valued at approximately $24,169,647.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO William R. Mcdermott sold 2,483 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $455.03, for a total transaction of $1,129,831.05. Following the completion of the sale, the chief executive officer now directly owns 53,117 shares of the company’s stock, valued at approximately $24,169,647.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 1,083 shares of the firm’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $461.03, for a total transaction of $499,295.49. Following the sale, the insider now directly owns 267 shares of the company’s stock, valued at $123,095.01. The disclosure for this sale can be found here. In the last three months, insiders sold 63,016 shares of company stock valued at $28,805,543. Corporate insiders own 0.28% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $424.54 on Wednesday. ServiceNow, Inc. has a 52-week low of $337.00 and a 52-week high of $601.62. The firm has a fifty day moving average of $435.42 and a 200-day moving average of $412.03. The firm has a market capitalization of $86.18 billion, a P/E ratio of 265.34, a PEG ratio of 5.56 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.28. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. ServiceNow had a net margin of 4.49% and a return on equity of 9.37%. As a group, analysts predict that ServiceNow, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Credit Suisse Group reduced their price objective on shares of ServiceNow from $600.00 to $575.00 and set an “outperform” rating on the stock in a research note on Friday, January 27th. Morgan Stanley upped their price objective on shares of ServiceNow from $520.00 to $612.00 and gave the company an “overweight” rating in a research note on Monday, December 19th. Wells Fargo & Company upped their price objective on shares of ServiceNow from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, January 26th. Barclays reduced their price objective on shares of ServiceNow from $496.00 to $495.00 and set an “overweight” rating on the stock in a research note on Thursday, January 26th. Finally, Truist Financial downgraded shares of ServiceNow from a “buy” rating to a “hold” rating and reduced their price objective for the company from $525.00 to $420.00 in a research note on Monday, January 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $517.47.

About ServiceNow

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.