KG&L Capital Management LLC Purchases Shares of 1,138 ServiceNow, Inc. (NYSE:NOW)

KG&L Capital Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,138 shares of the information technology services provider’s stock, valued at approximately $906,000.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. Quarry LP acquired a new stake in ServiceNow during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the fourth quarter worth about $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

ServiceNow stock opened at $1,005.95 on Thursday. The company has a fifty day simple moving average of $975.77 and a 200-day simple moving average of $968.70. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $208.21 billion, a price-to-earnings ratio of 136.68, a PEG ratio of 4.58 and a beta of 0.95. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the company posted $3.41 EPS. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider now directly owns 3,000 shares of the company’s stock, valued at $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NOW shares. Morgan Stanley increased their price target on shares of ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Truist Financial raised shares of ServiceNow from a “hold” rating to a “buy” rating and raised their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Canaccord Genuity Group cut their price target on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,065.32.

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.