L.M. Kohn & Company Acquires 67 Shares of ServiceNow, Inc. $NOW

L.M. Kohn & Company boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,009 shares of the information technology services provider’s stock after buying an additional 67 shares during the period. ServiceNow makes up about 0.6% of L.M. Kohn & Company’s holdings, making the stock its 29th largest holding. L.M. Kohn & Company’s holdings in ServiceNow were worth $2,065,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NOW. Global X Japan Co. Ltd. purchased a new position in ServiceNow in the 2nd quarter worth approximately $30,000. LGT Financial Advisors LLC purchased a new position in ServiceNow during the 2nd quarter valued at about $32,000. Bogart Wealth LLC increased its holdings in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new position in ServiceNow during the 1st quarter valued at about $26,000. Finally, Richardson Financial Services Inc. increased its holdings in ServiceNow by 50.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 11 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NOW. Piper Sandler boosted their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Zacks Research upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. BMO Capital Markets upped their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $1,200.00 target price on shares of ServiceNow in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,124.17.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,980 shares of company stock worth $16,049,017 over the last three months. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $939.50 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $195.42 billion, a P/E ratio of 118.33, a PEG ratio of 4.27 and a beta of 0.92. The stock’s 50 day moving average is $920.02 and its 200 day moving average is $945.20. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

About ServiceNow

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.