Cora Capital Advisors LLC Invests $225,000 in ServiceNow, Inc. $NOW

Cora Capital Advisors LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 219 shares of the information technology services provider’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow during the second quarter valued at about $30,000. Bogart Wealth LLC grew its position in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow during the 1st quarter worth approximately $26,000. Heck Capital Advisors LLC acquired a new position in ServiceNow during the 4th quarter valued at approximately $37,000. Finally, WASHINGTON TRUST Co raised its holdings in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,976 shares of company stock valued at $17,049,775 in the last ninety days. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Up 0.6%

Shares of NOW opened at $932.85 on Thursday. The company has a market capitalization of $194.03 billion, a price-to-earnings ratio of 117.49, a PEG ratio of 4.18 and a beta of 0.91. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock’s 50-day moving average price is $921.07 and its 200-day moving average price is $924.60. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.13 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NOW. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $1,040.00 to $1,250.00 in a research report on Wednesday. Citigroup boosted their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Monday, August 4th. UBS Group decreased their target price on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Finally, Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

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.