Cookson Peirce & Co. Inc. Takes $28.23 Million Position in ServiceNow, Inc. (NYSE:NOW)

Cookson Peirce & Co. Inc. bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 39,957 shares of the information technology services provider’s stock, valued at approximately $28,229,000. ServiceNow makes up about 1.7% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in NOW. RB Capital Management LLC boosted its holdings in shares of ServiceNow by 25.2% in the first quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after acquiring an additional 192 shares in the last quarter. Zions Bancorporation N.A. boosted its holdings 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 worth $487,000 after buying an additional 133 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in ServiceNow by 728.0% during 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 buying an additional 1,689 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in ServiceNow by 9.0% during the first quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after buying an additional 29 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings 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 buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock traded up $8.27 during trading hours on Tuesday, hitting $744.08. 714,253 shares of the company traded hands, compared to its average volume of 1,177,308. The firm has a market cap of $152.82 billion, a P/E ratio of 88.04, a P/E/G ratio of 4.86 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $769.28 and its two-hundred day simple moving average 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 released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of a number of research reports. Jefferies Financial Group lifted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. JMP Securities increased their price target on shares of ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research note on Monday, January 22nd. Wells Fargo & Company increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group increased their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Mizuho increased their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $780.00.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 in the last quarter. Insiders own 0.25% of the company’s stock.

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.