Key Financial Inc Acquires 35 Shares of ServiceNow, Inc. (NYSE:NOW)

Key Financial Inc raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 94.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 72 shares of the information technology services provider’s stock after buying an additional 35 shares during the period. Key Financial Inc’s holdings in ServiceNow were worth $57,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares during the last quarter. Norges Bank purchased a new stake in shares of ServiceNow during the fourth quarter valued at about $1,648,259,000. Massachusetts Financial Services Co. MA lifted its position in shares of ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after buying an additional 81,028 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after buying an additional 34,855 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock opened at $855.00 on Friday. The company’s fifty day moving average price is $789.70 and its 200 day moving average price is $760.16. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $857.25. The stock has a market capitalization of $175.28 billion, a P/E ratio of 91.44, a P/E/G ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,129 shares of company stock worth $5,759,436. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Piper Sandler increased their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. KeyCorp decreased their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Company 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.