Kercheville Advisors LLC Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Kercheville Advisors LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 345 shares of the information technology services provider’s stock after purchasing an additional 15 shares during the quarter. Kercheville Advisors LLC’s holdings in ServiceNow were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ServiceNow by 2.3% in the 2nd 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 purchasing an additional 34,855 shares in the last quarter. Swedbank AB grew its stake in ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after acquiring an additional 120,983 shares during the period. International Assets Investment Management LLC increased its stake in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of ServiceNow by 21.5% during the second quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock valued at $750,513,000 after acquiring an additional 168,734 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Down 0.6 %

NOW stock opened at $950.85 on Monday. The firm has a market cap of $194.92 billion, a PE ratio of 101.70, a P/E/G ratio of 5.04 and a beta of 0.99. ServiceNow, Inc. has a one year low of $548.44 and a one year high of $979.78. The firm’s fifty day moving average is $885.56 and its 200 day moving average is $797.66. 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 posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 7.41 EPS for the current year.

Analyst Ratings Changes

NOW has been the subject of several recent analyst reports. KeyCorp raised their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group increased their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Wells Fargo & Company upped their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Canaccord Genuity Group raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

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.