Cohen Investment Advisors LLC Sells 124 Shares of ServiceNow, Inc. (NYSE:NOW)

Cohen Investment Advisors LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,136 shares of the information technology services provider’s stock after selling 124 shares during the quarter. ServiceNow comprises 2.2% 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 $3,254,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Norges Bank bought a new position in shares of ServiceNow during the 4th quarter worth about $1,648,259,000. Massachusetts Financial Services Co. MA raised its holdings in shares of ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after acquiring an additional 81,028 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of ServiceNow by 18.3% in the 4th 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 worth $1,239,198,000 after acquiring an additional 271,153 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after acquiring an additional 34,855 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction 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 transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction on 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 completion of the transaction, the insider now 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 quarter, insiders have sold 9,072 shares of company stock worth $6,930,684. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Thursday, July 25th. Guggenheim restated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. JPMorgan Chase & Co. upped their target price on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup increased their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, TD Cowen increased their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $0.41 on Monday, hitting $827.86. 526,640 shares of the company traded hands, compared to its average volume of 1,298,351. The firm’s 50-day simple moving average is $784.05 and its 200 day simple moving average is $759.14. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $169.71 billion, a P/E ratio of 88.54, a P/E/G ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $850.33.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted $0.77 EPS. Analysts expect that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

ServiceNow Company 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.