Cookson Peirce & Co. Inc. Acquires 903 Shares of ServiceNow, Inc. (NYSE:NOW)

Cookson Peirce & Co. Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 182.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,399 shares of the information technology services provider’s stock after acquiring an additional 903 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in ServiceNow were worth $1,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NOW. Souders Financial Advisors raised its stake in shares of ServiceNow by 7.9% during the 4th quarter. Souders Financial Advisors now owns 272 shares of the information technology services provider’s stock valued at $288,000 after purchasing an additional 20 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at about $507,000. Laffer Tengler Investments Inc. lifted its holdings in shares of ServiceNow by 14.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 8,852 shares of the information technology services provider’s stock worth $9,384,000 after buying an additional 1,099 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of ServiceNow by 4.1% in the fourth quarter. Keybank National Association OH now owns 9,173 shares of the information technology services provider’s stock worth $9,724,000 after buying an additional 358 shares in the last quarter. Finally, Jag Capital Management LLC bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $10,632,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.5 %

Shares of NOW opened at $906.15 on Wednesday. The firm has a fifty day simple moving average of $1,030.51 and a two-hundred day simple moving average of $985.06. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market capitalization of $186.67 billion, a P/E ratio of 132.67, a PEG ratio of 4.51 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has authorized a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Oppenheimer increased their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Truist Financial raised their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Finally, Needham & Company LLC upped their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

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.