ServiceNow, Inc. (NYSE:NOW) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 3.0% in the third quarter, HoldingsChannel reports. The fund owned 871 shares of the information technology services provider’s stock after selling 27 shares during the quarter. KCM Investment Advisors LLC’s holdings in ServiceNow were worth $779,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Quent Capital LLC raised its holdings in shares of ServiceNow by 4.1% in the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after purchasing an additional 30 shares in the last quarter. M&G Plc bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $11,030,000. Nicolet Advisory Services LLC raised its holdings in shares of ServiceNow by 26.8% in the 1st quarter. Nicolet Advisory Services LLC now owns 600 shares of the information technology services provider’s stock worth $469,000 after purchasing an additional 127 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of ServiceNow by 411.5% in the 1st quarter. Intech Investment Management LLC now owns 5,938 shares of the information technology services provider’s stock worth $4,527,000 after purchasing an additional 4,777 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after purchasing an additional 271,073 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $900.00 to $960.00 in a report on Monday, October 21st. Citigroup boosted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird boosted their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Oppenheimer boosted their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One investment 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. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $974.04.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on 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 owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,325 shares of company stock valued at $5,024,928. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW stock opened at $1,011.39 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The firm has a 50 day moving average of $932.47 and a two-hundred day moving average of $823.24.

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