ServiceNow, Inc. $NOW Position Increased by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 11.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,277 shares of the information technology services provider’s stock after purchasing an additional 431 shares during the quarter. Koshinski Asset Management Inc.’s holdings in ServiceNow were worth $4,397,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Haverford Trust Co boosted its holdings in ServiceNow by 0.9% during the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after buying an additional 10 shares in the last quarter. Ascent Group LLC boosted its holdings in ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after buying an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. boosted its holdings in ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after buying an additional 11 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after buying an additional 11 shares in the last quarter. Finally, one8zero8 LLC boosted its holdings in ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after buying an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NOW. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Zacks Research raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,121.37.

ServiceNow Trading Up 1.1%

Shares of NYSE:NOW opened at $904.57 on Friday. The firm has a fifty day moving average of $910.30 and a two-hundred day moving average of $934.82. The firm has a market capitalization of $188.15 billion, a P/E ratio of 113.93, a price-to-earnings-growth ratio of 4.03 and a beta of 0.92. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 13.78% and a return on equity of 18.04%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $3.13 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the transaction, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 in the last ninety days. Company insiders own 0.38% of the company’s stock.

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.