ServiceNow, Inc. (NYSE:NOW) Shares Bought by Forsta AP Fonden

Forsta AP Fonden boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,800 shares of the information technology services provider’s stock after purchasing an additional 4,200 shares during the quarter. Forsta AP Fonden’s holdings in ServiceNow were worth $54,379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Middleton & Co. Inc. MA raised its position in ServiceNow by 0.5% in the 3rd quarter. Middleton & Co. Inc. MA now owns 21,402 shares of the information technology services provider’s stock valued at $19,142,000 after purchasing an additional 103 shares during the last quarter. Lyell Wealth Management LP raised its position in ServiceNow by 0.4% during the 3rd quarter. Lyell Wealth Management LP now owns 26,168 shares of the information technology services provider’s stock worth $23,404,000 after buying an additional 97 shares during the last quarter. Allworth Financial LP raised its position in ServiceNow by 1.5% during the 3rd quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock worth $996,000 after buying an additional 16 shares during the last quarter. Convergence Financial LLC raised its position in ServiceNow by 51.0% during the 3rd quarter. Convergence Financial LLC now owns 2,002 shares of the information technology services provider’s stock worth $1,791,000 after buying an additional 676 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in ServiceNow by 24.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,847 shares of the information technology services provider’s stock worth $1,652,000 after buying an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,457,924. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,457,924. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Down 0.6 %

Shares of NYSE:NOW traded down $5.73 during midday trading on Friday, reaching $950.85. The company’s stock had a trading volume of 1,494,753 shares, compared to its average volume of 1,286,547. The firm has a 50 day moving average price of $883.09 and a two-hundred day moving average price of $796.21. ServiceNow, Inc. has a fifty-two week low of $548.44 and a fifty-two week high of $979.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $195.88 billion, a price-to-earnings ratio of 171.94, a PEG ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOW. Truist Financial upped their price target on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday. Oppenheimer increased their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JMP Securities increased their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Piper Sandler increased their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

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.