Klingenstein Fields & Co. LP Has $23.62 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Klingenstein Fields & Co. LP increased its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,409 shares of the information technology services provider’s stock after acquiring an additional 214 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in ServiceNow were worth $23,620,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NOW. Lincoln National Corp grew its position in shares of ServiceNow by 6.3% during the 1st quarter. Lincoln National Corp now owns 3,587 shares of the information technology services provider’s stock worth $2,735,000 after buying an additional 214 shares during the period. Quent Capital LLC grew its holdings in ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 30 shares during the period. Mutual Advisors LLC raised its position in shares of ServiceNow by 36.7% during the 1st quarter. Mutual Advisors LLC now owns 3,178 shares of the information technology services provider’s stock valued at $2,423,000 after acquiring an additional 853 shares during the last quarter. Smith Salley Wealth Management acquired a new position in shares of ServiceNow in the 1st quarter valued at $302,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of ServiceNow by 91.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,926 shares of the information technology services provider’s stock worth $16,716,000 after purchasing an additional 10,467 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $943.41 on Monday. The company has a market cap of $194.34 billion, a price-to-earnings ratio of 146.72, a PEG ratio of 5.35 and a beta of 0.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $896.89 and its 200 day simple moving average is $804.49. ServiceNow, Inc. has a 1-year low of $592.48 and a 1-year high of $979.78.

ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for 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%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,530 shares of company stock valued at $2,939,955. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on NOW. JMP Securities increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. TD Cowen increased their price target on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Oppenheimer boosted their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein increased their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, KeyCorp lifted their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $970.33.

Check Out Our Latest Stock Report on ServiceNow

ServiceNow Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Free Report).