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

Cohen Investment Advisors LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 3.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,260 shares of the information technology services provider’s stock after purchasing an additional 148 shares during the period. ServiceNow comprises 2.1% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Cohen Investment Advisors LLC’s holdings in ServiceNow were worth $3,248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares during the last quarter. Jennison Associates LLC increased its stake in shares of ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after purchasing an additional 53,719 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $1,648,259,000. Massachusetts Financial Services Co. MA lifted its stake in ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $8.19 during trading hours on Thursday, reaching $785.92. 577,464 shares of the stock traded hands, compared to its average volume of 1,202,180. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The firm has a market capitalization of $161.11 billion, a price-to-earnings ratio of 84.06, a P/E/G ratio of 4.98 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $729.74 and a 200 day moving average price of $742.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, equities research analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NOW shares. Stifel Nicolaus restated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note on Tuesday. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Wolfe Research restated an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a research report on Friday, May 10th. UBS Group decreased their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, KeyCorp dropped their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $813.28.

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.