Kovack Advisors Inc. Has $3.47 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Kovack Advisors Inc. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,358 shares of the information technology services provider's stock after purchasing an additional 274 shares during the quarter. Kovack Advisors Inc.'s holdings in ServiceNow were worth $3,470,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Holistic Financial Partners lifted its holdings in shares of ServiceNow by 7.1% during the first quarter. Holistic Financial Partners now owns 540 shares of the information technology services provider's stock worth $430,000 after buying an additional 36 shares in the last quarter. Carnegie Investment Counsel grew its holdings in shares of ServiceNow by 12.4% during the first quarter. Carnegie Investment Counsel now owns 272 shares of the information technology services provider's stock worth $201,000 after purchasing an additional 30 shares during the last quarter. Machina Capital S.A.S. bought a new stake in shares of ServiceNow during the first quarter worth about $833,000. Pinnacle Associates Ltd. grew its holdings in shares of ServiceNow by 1.9% during the first quarter. Pinnacle Associates Ltd. now owns 3,063 shares of the information technology services provider's stock worth $2,439,000 after purchasing an additional 56 shares during the last quarter. Finally, Black Swift Group LLC bought a new stake in shares of ServiceNow during the first quarter worth about $4,261,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE NOW traded up $17.65 during midday trading on Monday, hitting $986.44. The company had a trading volume of 786,029 shares, compared to its average volume of 1,690,648. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $204.17 billion, a price-to-earnings ratio of 124.24, a P/E/G ratio of 4.42 and a beta of 0.94. The firm has a fifty day simple moving average of $1,000.33 and a two-hundred day simple moving average of $951.85. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm posted $3.13 earnings per share. The company's revenue was up 22.4% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 292 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the sale, the chief financial officer directly owned 11,198 shares of the company's stock, valued at approximately $11,030,030. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,233 shares of company stock valued at $5,297,758 in the last three months. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a report on Monday, July 21st. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, Citigroup increased their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

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.