ServiceNow, Inc. (NYSE:NOW) Holdings Raised by Kovack Advisors Inc.

Kovack Advisors Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,528 shares of the information technology services provider’s stock after acquiring an additional 561 shares during the quarter. ServiceNow makes up approximately 0.5% of Kovack Advisors Inc.’s holdings, making the stock its 27th largest position. Kovack Advisors Inc.’s holdings in ServiceNow were worth $4,612,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Argonautica Private Wealth Management Inc. boosted its position in ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after purchasing an additional 13 shares during the period. Callan Capital LLC boosted its position in ServiceNow by 4.0% during the 4th quarter. Callan Capital LLC now owns 1,451 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 56 shares during the period. WD Rutherford LLC boosted its position in ServiceNow by 2.2% during the 4th quarter. WD Rutherford LLC now owns 5,042 shares of the information technology services provider’s stock valued at $3,794,000 after purchasing an additional 110 shares during the period. Motley Fool Asset Management LLC boosted its position in ServiceNow by 5.5% during the 4th quarter. Motley Fool Asset Management LLC now owns 6,151 shares of the information technology services provider’s stock valued at $4,346,000 after purchasing an additional 318 shares during the period. Finally, New Jersey Better Educational Savings Trust acquired a new position in ServiceNow during the 4th quarter valued at approximately $208,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 0.9 %

NYSE:NOW traded up $6.69 during trading hours on Friday, hitting $722.94. 1,445,813 shares of the company’s stock traded hands, compared to its average volume of 1,216,659. The firm has a market cap of $148.48 billion, a P/E ratio of 77.32, a P/E/G ratio of 4.72 and a beta of 0.97. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s fifty day moving average price is $759.21 and its two-hundred day moving average price is $707.90.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. On average, research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,164 shares of company stock valued at $9,940,303. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Oppenheimer boosted their price objective on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. BMO Capital Markets reduced their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday. Royal Bank of Canada boosted their price target on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Piper Sandler boosted their price target on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $782.85.

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.