ServiceNow, Inc. (NYSE:NOW) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,528 shares of the information technology services provider’s stock after buying an additional 561 shares during the quarter. ServiceNow comprises approximately 0.5% of Kovack Advisors Inc.’s investment portfolio, making the stock its 27th largest holding. Kovack Advisors Inc.’s holdings in ServiceNow were worth $4,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its stake in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. PFG Private Wealth Management LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $28,000. Disciplined Equity Management Inc. acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $35,000. Fortitude Family Office LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $41,000. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in shares of ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock valued at $9,940,303 in the last three months. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. UBS Group dropped their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Robert W. Baird lifted their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $782.85.

ServiceNow Trading Up 0.9 %

Shares of NYSE:NOW traded up $6.69 during midday trading on Friday, reaching $722.94. 1,445,813 shares of the company’s stock were exchanged, compared to its average volume of 1,216,659. The firm’s 50 day simple moving average is $759.21 and its two-hundred day simple moving average is $707.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $148.48 billion, a price-to-earnings ratio of 77.32, a P/E/G ratio of 4.72 and a beta of 0.97. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

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.