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

Cohen Investment Advisors LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 holding. Cohen Investment Advisors LLC’s holdings in ServiceNow were worth $4,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. purchased a new position in ServiceNow during the second quarter worth $30,000. Bogart Wealth LLC increased its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in ServiceNow during the first quarter worth $26,000. WASHINGTON TRUST Co increased its position in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares in the last quarter. Finally, Dagco Inc. purchased a new position in ServiceNow during the first quarter worth $33,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Mizuho raised their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday. FBN Securities raised ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. Barclays set a $1,210.00 price objective on ServiceNow in a research report on Thursday, July 24th. Finally, Bank of America lifted their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One analyst has 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 in the last ninety days. Company insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $914.15 on Thursday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market capitalization of $190.14 billion, a P/E ratio of 115.13, a PEG ratio of 4.07 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average price is $910.23 and its 200 day moving average price is $930.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the firm earned $3.13 earnings per share. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.