ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. increased its stake in ServiceNow by 28.7%, now holding 1,800 shares valued at approximately $1.43 million.
• ServiceNow reported earnings of $4.09 per share for the last quarter, surpassing analysts' expectations of $3.57, with a revenue of $3.22 billion.
• Multiple analysts have upgraded ServiceNow's stock ratings and price targets, with a consensus rating of "Moderate Buy" and a target price of around $1,115.20.

Cookson Peirce & Co. Inc. increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 28.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,800 shares of the information technology services provider's stock after purchasing an additional 401 shares during the period. Cookson Peirce & Co. Inc.'s holdings in ServiceNow were worth $1,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NOW. Bogart Wealth LLC boosted its stake in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in ServiceNow during the 1st quarter worth approximately $26,000. Quarry LP purchased a new position in ServiceNow during the 4th quarter worth approximately $27,000. WASHINGTON TRUST Co raised its position in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the last quarter. Finally, Dagco Inc. purchased a new position in ServiceNow during the 1st quarter worth approximately $33,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 239 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the completion of the sale, the director owned 10,404 shares of the company's stock, valued at $10,924,200. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 67 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $860.57, for a total transaction of $57,658.19. Following the sale, the insider directly owned 3,027 shares of the company's stock, valued at $2,604,945.39. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,738 shares of company stock valued at $5,713,973. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOW shares. Robert W. Baird raised their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Royal Bank Of Canada raised their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Needham & Company LLC raised their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Finally, Canaccord Genuity Group reduced their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Price Performance

NYSE NOW traded down $12.81 on Thursday, hitting $850.49. The company had a trading volume of 1,784,168 shares, compared to its average volume of 1,834,557. The company has a market capitalization of $176.90 billion, a PE ratio of 107.12, a PEG ratio of 3.89 and a beta of 0.93. The company's fifty day moving average price is $970.30 and its 200-day moving average price is $937.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm earned $3.13 EPS. The firm's revenue was up 22.4% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.