Kensington Investment Counsel LLC Invests $202,000 in ServiceNow, Inc. (NYSE:NOW)

Kensington Investment Counsel LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 226 shares of the information technology services provider’s stock, valued at approximately $202,000.

A number of other hedge funds also recently bought and sold shares of the company. Polymer Capital Management HK LTD lifted its holdings in shares of ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after acquiring an additional 981 shares during the last quarter. AXA S.A. lifted its stake in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC grew its position in ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after acquiring an additional 765 shares during the last quarter. Finally, HWG Holdings LP purchased a new position in ServiceNow in the 2nd quarter worth approximately $2,679,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,124.34 on Friday. The company has a market capitalization of $231.61 billion, a PE ratio of 174.86, a PEG ratio of 6.45 and a beta of 0.99. The business has a fifty day moving average price of $982.51 and a 200-day moving average price of $858.37. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,137.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Robert W. Baird raised their price target on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Citigroup upped their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group raised their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $900.00 to $960.00 in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,011.26.

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.