ServiceNow, Inc. $NOW Shares Acquired by Koshinski Asset Management Inc.

Key Points

• Koshinski Asset Management Inc. increased its stake in ServiceNow, Inc. by 11.2% during Q2, owning a total of 4,277 shares valued at approximately $4.4 million.
• ServiceNow reported earnings of $4.09 per share for the latest quarter, surpassing the consensus estimate by $0.52, with year-over-year revenue growth of 22.4%.
• Despite positive performance, analysts have mixed ratings on ServiceNow, with a consensus rating of "Moderate Buy" and target prices ranging from $724.00 to $1,250.00.

Koshinski Asset Management Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,277 shares of the information technology services provider's stock after purchasing an additional 431 shares during the quarter. Koshinski Asset Management Inc.'s holdings in ServiceNow were worth $4,397,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Haverford Trust Co raised its stake in shares of ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after purchasing an additional 10 shares in the last quarter. Ascent Group LLC raised its stake in ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock worth $1,628,000 after acquiring an additional 10 shares during the period. Edgemoor Investment Advisors Inc. raised its stake in ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after acquiring an additional 11 shares during the period. Integrated Investment Consultants LLC raised its stake in ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after acquiring an additional 11 shares during the period. Finally, one8zero8 LLC raised its stake in ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $904.57 on Friday. The firm's 50 day moving average is $910.30 and its two-hundred day moving average is $934.82. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm has a market capitalization of $188.15 billion, a P/E ratio of 113.93, a PEG ratio of 4.03 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NOW shares. Weiss Ratings reiterated a "hold (c)" rating on shares of ServiceNow in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Needham & Company LLC increased their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Guggenheim reiterated a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Finally, DA Davidson upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,121.37.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares in the company, valued at $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares of the company's stock, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by 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.

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