Kesler Norman & Wride LLC Makes New $965,000 Investment in ServiceNow, Inc. (NYSE:NOW)

Kesler Norman & Wride LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,079 shares of the information technology services provider’s stock, valued at approximately $965,000.

A number of other hedge funds have also bought and sold shares of the business. Morling Financial Advisors LLC raised its position in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the last quarter. Optas LLC raised its position in ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after buying an additional 14 shares during the last quarter. Cedar Wealth Management LLC raised its position in ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares during the last quarter. Financial Advocates Investment Management grew its stake in shares of ServiceNow by 2.7% during the 2nd quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 14 shares during the period. Finally, Ndwm LLC grew its stake in shares of ServiceNow by 0.6% during the 2nd quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW opened at $905.94 on Tuesday. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $945.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $848.43 and its 200-day simple moving average is $780.85. The company has a market capitalization of $185.72 billion, a price-to-earnings ratio of 96.89, a PEG ratio of 5.55 and a beta of 0.99.

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, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the business posted $0.77 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of a number of recent research reports. BMO Capital Markets boosted their price target on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup boosted their price objective on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company boosted their price target on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $859.04.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the sale, the insider now owns 3,027 shares in the company, valued at $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 over the last three months. 0.25% of the stock is currently owned by 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.