Keeler Thomas Management LLC Invests $1.91 Million in ServiceNow, Inc. $NOW

Keeler Thomas Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,859 shares of the information technology services provider’s stock, valued at approximately $1,911,000. ServiceNow makes up approximately 0.8% of Keeler Thomas Management LLC’s portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in NOW. Global X Japan Co. Ltd. purchased a new position in ServiceNow in the second quarter valued at about $30,000. LGT Financial Advisors LLC purchased a new stake in ServiceNow in the second quarter valued at approximately $32,000. Bogart Wealth LLC boosted its position in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the first quarter valued at approximately $26,000. Finally, Richardson Financial Services Inc. lifted its holdings in ServiceNow by 50.0% in the second quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 11 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. Barclays set a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Zacks Research upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Raymond James Financial increased their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Bank of America increased their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Citigroup upped their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,124.17.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares in the company, valued at $409,037.85. This represents a 76.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $929.77 on Friday. The stock’s 50-day simple moving average is $917.85 and its 200-day simple moving average is $940.95. The firm has a market capitalization of $193.39 billion, a PE ratio of 117.10, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS 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.