Cohen Investment Advisors LLC Reduces Stake in ServiceNow, Inc. (NYSE:NOW)

Cohen Investment Advisors LLC decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,381 shares of the information technology services provider’s stock after selling 10 shares during the period. ServiceNow accounts for about 2.8% of Cohen Investment Advisors LLC’s portfolio, making the stock its 10th largest holding. Cohen Investment Advisors LLC’s holdings in ServiceNow were worth $4,644,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Dimensional Fund Advisors LP lifted its holdings in shares of ServiceNow by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 274,844 shares of the information technology services provider’s stock worth $216,207,000 after buying an additional 39,984 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in ServiceNow in the 2nd quarter worth about $256,000. Wealth Alliance grew its position in shares of ServiceNow by 6.9% during the 2nd quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock worth $747,000 after purchasing an additional 61 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of ServiceNow by 33.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 10,371 shares of the information technology services provider’s stock worth $8,159,000 after purchasing an additional 2,595 shares during the period. Finally, Argent Trust Co raised its position in shares of ServiceNow by 5.4% in the second quarter. Argent Trust Co now owns 3,315 shares of the information technology services provider’s stock valued at $2,608,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $1,057.20 on Friday. The business has a 50-day moving average of $1,067.55 and a 200-day moving average of $928.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $217.78 billion, a price-to-earnings ratio of 164.42, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business earned $1.21 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Sanford C. Bernstein raised their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Oppenheimer upped their price objective on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Barclays increased their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,071.39.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,276 shares of company stock worth $20,535,115 over the last quarter. Company insiders own 0.25% 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.