Kowal Investment Group LLC Buys 514 Shares of ServiceNow, Inc. (NYSE:NOW)

Kowal Investment Group LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 196.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 775 shares of the information technology services provider’s stock after purchasing an additional 514 shares during the quarter. Kowal Investment Group LLC’s holdings in ServiceNow were worth $693,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. M&G Plc bought a new position in shares of ServiceNow in the 1st quarter valued at about $11,030,000. AXA S.A. lifted its stake in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP bought a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $2,679,000. New Mexico Educational Retirement Board boosted its holdings in shares of ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after purchasing an additional 1,078 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NOW. JPMorgan Chase & Co. raised their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Monday, September 9th. Royal Bank of Canada upped their price target on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JMP Securities raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Jefferies Financial Group boosted their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $899.65.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the business’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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $918.87 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $188.37 billion, a price-to-earnings ratio of 98.27, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The firm has a 50 day moving average of $869.98 and a 200 day moving average of $789.79. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $949.59.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company posted $0.77 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, sell-side analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

About ServiceNow

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.