ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP raised its stake in ServiceNow, Inc. (NYSE:NOW) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 894 shares of the information technology services provider’s stock after acquiring an additional 88 shares during the period. Forum Financial Management LP’s holdings in ServiceNow were worth $712,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of ServiceNow in the fourth quarter valued at about $27,000. Bogart Wealth LLC lifted 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 buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the 1st quarter worth about $26,000. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $37,000. Finally, WASHINGTON TRUST Co boosted its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

NOW opened at $959.27 on Friday. The stock has a market cap of $198.55 billion, a P/E ratio of 130.34, a PEG ratio of 4.44 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The business has a fifty day moving average of $1,006.88 and a 200 day moving average of $957.08.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business posted $3.41 earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets upped their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group dropped their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,075.87.

Insider Buying and Selling

In other news, Director Jonathan Chadwick sold 770 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the sale, the director owned 3,205 shares in the company, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,601 shares of company stock worth $6,577,363 in the last three months. 0.38% of the stock is currently owned by insiders.

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.