ServiceNow, Inc. $NOW Shares Bought by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,623 shares of the information technology services provider’s stock after purchasing an additional 92 shares during the quarter. ServiceNow accounts for 2.5% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Cohen Investment Advisors LLC’s holdings in ServiceNow were worth $4,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Bogart Wealth LLC lifted its stake in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the first quarter worth about $26,000. WASHINGTON TRUST Co lifted its stake in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow in the second quarter worth about $30,000. Finally, Dagco Inc. acquired a new position in shares of ServiceNow in the first quarter worth about $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. This represents a 36.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley upgraded ServiceNow from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Raymond James Financial boosted their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Oppenheimer reissued an “outperform” rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Piper Sandler boosted their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Stock Up 1.1%

NYSE:NOW opened at $914.15 on Thursday. The firm has a market capitalization of $190.14 billion, a PE ratio of 115.13, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92. The stock has a 50 day moving average of $910.23 and a 200-day moving average of $930.97. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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