ServiceNow, Inc. (NYSE:NOW) Stake Lessened by Forte Capital LLC ADV

Forte Capital LLC ADV lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 284 shares of the information technology services provider’s stock after selling 12 shares during the quarter. Forte Capital LLC ADV’s holdings in ServiceNow were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Catalyst Financial Partners LLC increased its stake in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares during the period. First Affirmative Financial Network increased its stake in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 12 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC increased its stake in shares of ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the period. Finally, CX Institutional increased its stake in shares of ServiceNow by 1.2% during the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent research reports. JMP Securities lifted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Robert W. Baird lifted their price target on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. UBS Group lifted their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Oppenheimer lifted their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup lifted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $970.33.

Insider Activity

In related news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,343 shares of company stock valued at $2,791,181. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NOW opened at $1,015.45 on Friday. The company has a market capitalization of $209.18 billion, a PE ratio of 157.92, a price-to-earnings-growth ratio of 5.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a one year low of $615.54 and a one year high of $1,024.44. The company’s fifty day moving average price is $905.83 and its 200 day moving average price is $809.18.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. As a group, analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

ServiceNow Company 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.