Kozak & Associates Inc. Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Kozak & Associates Inc. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 50.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 317 shares of the information technology services provider’s stock after selling 329 shares during the period. Kozak & Associates Inc.’s holdings in ServiceNow were worth $178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. RB Capital Management LLC boosted its position in ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 192 shares in the last quarter. Zions Bancorporation N.A. grew its position in ServiceNow by 17.9% during the first quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after buying an additional 133 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of ServiceNow by 728.0% in the first quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after acquiring an additional 1,689 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of ServiceNow by 9.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after acquiring an additional 29 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in ServiceNow by 0.7% during the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 87.14% of the company’s stock.

Insiders Place Their Bets

In related news, insider Christopher Bedi sold 1,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $593.51, for a total transaction of $593,510.00. Following the completion of the transaction, the insider now owns 15,484 shares in the company, valued at $9,189,908.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 759 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $552.98, for a total value of $419,711.82. Following the completion of the transaction, the chief financial officer now owns 7,357 shares in the company, valued at $4,068,273.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Bedi sold 1,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $593.51, for a total transaction of $593,510.00. Following the completion of the transaction, the insider now owns 15,484 shares of the company’s stock, valued at approximately $9,189,908.84. The disclosure for this sale can be found here. Insiders sold a total of 17,951 shares of company stock worth $10,147,437 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

ServiceNow Trading Down 0.7 %

NYSE NOW traded down $4.37 on Thursday, reaching $587.01. The stock had a trading volume of 129,634 shares, compared to its average volume of 1,460,913. The firm has a market capitalization of $119.60 billion, a price-to-earnings ratio of 85.21, a P/E/G ratio of 6.04 and a beta of 1.01. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.21. ServiceNow, Inc. has a 12-month low of $337.00 and a 12-month high of $614.36. The stock has a fifty day moving average price of $572.31 and a two-hundred day moving average price of $515.49.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.43 by $0.34. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.13 billion. ServiceNow had a net margin of 17.76% and a return on equity of 11.07%. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 3.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price target on shares of ServiceNow from $640.00 to $650.00 in a report on Thursday, July 27th. Piper Sandler upped their price target on shares of ServiceNow from $525.00 to $600.00 in a research report on Friday, June 9th. Stifel Nicolaus lifted their price objective on ServiceNow from $600.00 to $640.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. KeyCorp increased their target price on ServiceNow from $547.00 to $675.00 and gave the company an “overweight” rating in a report on Friday, July 21st. Finally, Wells Fargo & Company lifted their price target on ServiceNow from $625.00 to $650.00 in a research note on Thursday, July 27th. Two analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $591.38.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.