Kovack Advisors Inc. Has $3.58 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Kovack Advisors Inc. trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.0% in the third quarter, Holdings Channel reports. The institutional investor owned 4,006 shares of the information technology services provider’s stock after selling 123 shares during the period. Kovack Advisors Inc.’s holdings in ServiceNow were worth $3,583,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Swedbank AB bought a new stake in ServiceNow during the first quarter worth about $897,908,000. Vanguard Group Inc. grew its stake in ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of ServiceNow in the 2nd quarter valued at approximately $218,786,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after acquiring an additional 271,073 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NOW shares. Piper Sandler lifted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. BMO Capital Markets upped their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Oppenheimer lifted their target price on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein boosted their target price on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $974.04.

ServiceNow Stock Up 0.4 %

NYSE:NOW traded up $3.98 on Wednesday, hitting $1,052.27. The stock had a trading volume of 228,953 shares, compared to its average volume of 1,275,649. The company has a market cap of $216.77 billion, a PE ratio of 163.03, a P/E/G ratio of 5.95 and a beta of 0.98. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,053.26. The business’s fifty day moving average is $920.45 and its 200 day moving average is $818.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

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

Insider Activity at ServiceNow

In other news, insider Kevin Thomas Mcbride sold 100 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $825.00, for a total value of $82,500.00. Following the completion of the sale, the insider now directly owns 2,994 shares of the company’s stock, valued at $2,470,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin Thomas Mcbride sold 100 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $825.00, for a total value of $82,500.00. Following the completion of the transaction, the insider now directly owns 2,994 shares of the company’s stock, valued at approximately $2,470,050. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,359 shares of company stock valued at $5,038,241. 0.25% of the stock is owned by corporate insiders.

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.