1,848 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by KLCM Advisors Inc.

KLCM Advisors Inc. purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,848 shares of the information technology services provider’s stock, valued at approximately $1,306,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. PFG Private Wealth Management LLC purchased a new position in shares of ServiceNow in the 3rd quarter worth about $28,000. First Capital Advisors Group LLC. purchased a new stake in ServiceNow during the second quarter valued at about $29,000. High Net Worth Advisory Group LLC purchased a new stake in ServiceNow during the first quarter valued at about $29,000. AdvisorNet Financial Inc lifted its holdings in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Steward Financial Group LLC lifted its holdings in ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 35 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.2 %

Shares of NYSE:NOW traded up $8.97 during trading on Wednesday, reaching $744.78. 1,085,831 shares of the company traded hands, compared to its average volume of 904,049. The business’s fifty day moving average is $768.63 and its 200-day moving average is $700.17. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The firm has a market capitalization of $152.96 billion, a price-to-earnings ratio of 88.56, a P/E/G ratio of 4.65 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada upped their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barclays upped their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. UBS Group upped their price target on ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group upped their price target on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $780.00.

Insider Buying and Selling

In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 over the last quarter. 0.25% of the stock is owned by company insiders.

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.