Cohen Investment Advisors LLC Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Cohen Investment Advisors LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,260 shares of the information technology services provider’s stock after buying an additional 148 shares during the quarter. ServiceNow makes up approximately 2.1% of Cohen Investment Advisors LLC’s holdings, making the stock its 14th largest holding. Cohen Investment Advisors LLC’s holdings in ServiceNow were worth $3,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Sandbox Financial Partners LLC raised its stake in shares of ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of ServiceNow by 19.8% in the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares during the period. Raymond James & Associates raised its holdings in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Smithfield Trust Co lifted its position in ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after purchasing an additional 262 shares during the period. Finally, Dohj LLC purchased a new stake in ServiceNow in the fourth quarter valued at $913,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 602 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares in the company, valued at $2,785,725.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the transaction, the insider now owns 3,619 shares of the company’s stock, valued at approximately $2,785,725.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock valued at $3,997,012 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NOW shares. KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday. Jefferies Financial Group lifted their price target on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Stifel Nicolaus reissued a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Finally, UBS Group decreased their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $813.28.

ServiceNow Price Performance

NOW stock traded down $8.19 during midday trading on Thursday, reaching $785.92. The stock had a trading volume of 577,464 shares, compared to its average volume of 1,202,180. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $729.74 and its 200 day simple moving average is $742.98. The company has a market cap of $161.11 billion, a price-to-earnings ratio of 84.06, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. As a group, sell-side analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

ServiceNow 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.