Cookson Peirce & Co. Inc. Acquires New Shares in ServiceNow, Inc. (NYSE:NOW)

Cookson Peirce & Co. Inc. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, Holdings Channel reports. The fund acquired 39,957 shares of the information technology services provider’s stock, valued at approximately $28,229,000. ServiceNow accounts for 1.7% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 15th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC acquired a new position in ServiceNow during the third quarter valued at $28,000. First Capital Advisors Group LLC. acquired a new position in ServiceNow in the 2nd quarter valued at approximately $29,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow in the 1st quarter valued at approximately $29,000. AdvisorNet Financial Inc raised its holdings in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Finally, Steward Financial Group LLC grew its position in ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 1.1 %

Shares of ServiceNow stock traded up $8.27 on Tuesday, reaching $744.08. The company had a trading volume of 714,253 shares, compared to its average volume of 1,177,308. The firm has a market cap of $152.82 billion, a price-to-earnings ratio of 88.04, a P/E/G ratio of 4.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50-day moving average price is $769.28 and its two-hundred day moving average price is $698.87. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $0.88 EPS. ServiceNow’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NOW. Royal Bank of Canada raised their price target on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Oppenheimer lifted their price target on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group boosted their price objective on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Citigroup upped their price target on shares of ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $780.00.

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.