Koshinski Asset Management Inc. Grows Position in ServiceNow, Inc. (NYSE:NOW)

Koshinski Asset Management Inc. raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,846 shares of the information technology services provider's stock after acquiring an additional 479 shares during the period. Koshinski Asset Management Inc.'s holdings in ServiceNow were worth $3,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter worth about $2,603,360,000. Proficio Capital Partners LLC grew its holdings in ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in ServiceNow by 36.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after purchasing an additional 491,861 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NOW shares. BMO Capital Markets boosted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. William Blair restated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Morgan Stanley upped their price objective on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Evercore ISI lifted their target price on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $1,048.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,065.32.

ServiceNow Stock Down 1.6%

NYSE NOW traded down $16.16 on Tuesday, hitting $1,011.92. The stock had a trading volume of 1,244,066 shares, compared to its average volume of 1,482,329. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The business's fifty day moving average price is $991.05 and its 200 day moving average price is $964.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $209.45 billion, a price-to-earnings ratio of 137.49, a price-to-earnings-growth ratio of 4.70 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $3.41 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the transaction, the insider owned 3,027 shares in the company, valued at approximately $3,087,540. This represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 over the last ninety days. Company insiders own 0.38% of the company's stock.

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.