L.M. Kohn & Company Has $2.04 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

L.M. Kohn & Company raised its position in ServiceNow, Inc. (NYSE:NOW) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,921 shares of the information technology services provider’s stock after acquiring an additional 13 shares during the period. L.M. Kohn & Company’s holdings in ServiceNow were worth $2,036,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Creative Planning raised its stake in shares of ServiceNow by 8.1% during the 3rd quarter. Creative Planning now owns 55,887 shares of the information technology services provider’s stock worth $49,985,000 after purchasing an additional 4,170 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of ServiceNow by 4.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,884 shares of the information technology services provider’s stock worth $3,474,000 after purchasing an additional 174 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of ServiceNow by 22.7% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 654 shares of the information technology services provider’s stock worth $585,000 after purchasing an additional 121 shares in the last quarter. Aspiriant LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth approximately $309,000. Finally, Stratos Wealth Partners LTD. raised its stake in shares of ServiceNow by 12.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 8,646 shares of the information technology services provider’s stock worth $7,733,000 after purchasing an additional 938 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOW. Needham & Company LLC upped their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Guggenheim restated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. Jefferies Financial Group reduced their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Piper Sandler increased their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Activity

In related news, Director Larry Quinlan sold 415 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the completion of the sale, the director now directly owns 1,322 shares in the company, valued at $1,335,828.12. This represents a 23.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $95,554.76. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,077,066.58. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,257 shares of company stock worth $23,579,376. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.4 %

NYSE NOW opened at $985.67 on Friday. The business has a fifty day moving average price of $1,070.53 and a two-hundred day moving average price of $971.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $203.05 billion, a PE ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

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.