Kovack Advisors Inc. Sells 123 Shares of ServiceNow, Inc. (NYSE:NOW)

Kovack Advisors Inc. reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,006 shares of the information technology services provider’s stock after selling 123 shares during the quarter. Kovack Advisors Inc.’s holdings in ServiceNow were worth $3,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. M&G Plc bought a new position in ServiceNow in the first quarter valued at approximately $11,030,000. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the period. AXA S.A. boosted its position in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. Finally, HWG Holdings LP bought a new stake in ServiceNow in the second quarter valued at about $2,679,000. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. JMP Securities boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group upped their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. KeyCorp upped their price objective on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $974.04.

Insider Activity

In related news, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,359 shares of company stock valued at $5,038,241 over the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.4 %

Shares of NYSE NOW traded up $3.98 during trading hours on Wednesday, hitting $1,052.27. The company had a trading volume of 228,953 shares, compared to its average volume of 1,275,649. The stock has a market capitalization of $216.77 billion, a P/E ratio of 163.03, a price-to-earnings-growth ratio of 5.95 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,053.26. The firm’s 50 day moving average is $920.45 and its 200-day moving average is $818.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business earned $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

ServiceNow 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.