Forsta AP Fonden Lowers Stock Position in ServiceNow, Inc. (NYSE:NOW)

Forsta AP Fonden reduced its position in ServiceNow, Inc. (NYSE:NOW) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,100 shares of the information technology services provider’s stock after selling 700 shares during the quarter. ServiceNow comprises about 0.5% of Forsta AP Fonden’s investment portfolio, making the stock its 28th biggest position. Forsta AP Fonden’s holdings in ServiceNow were worth $63,713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in ServiceNow during the 3rd quarter worth $30,000. DT Investment Partners LLC lifted its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares during the period. Dunhill Financial LLC grew its stake in shares of ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares in the last quarter. Finally, Vestor Capital LLC purchased a new stake in shares of ServiceNow during the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Scotiabank assumed coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. TD Cowen upped their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,116.14.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $1,171.00 on Wednesday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock’s 50-day moving average price is $1,082.77 and its two-hundred day moving average price is $950.94. The company has a market cap of $241.23 billion, a PE ratio of 182.11, a PEG ratio of 5.11 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

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.