Forte Capital LLC ADV Sells 12 Shares of ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Forte Capital LLC ADV reduced its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 284 shares of the information technology services provider’s stock after selling 12 shares during the period. Forte Capital LLC ADV’s holdings in ServiceNow were worth $254,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC lifted its holdings in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the last quarter. First Affirmative Financial Network lifted its holdings in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC lifted its holdings in ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 13 shares during the last quarter. Finally, CX Institutional increased its position in ServiceNow by 1.2% in the 3rd 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 in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

NYSE NOW opened at $1,015.45 on Friday. The company has a fifty day simple moving average of $905.83 and a 200 day simple moving average of $809.18. ServiceNow, Inc. has a 12-month low of $615.54 and a 12-month high of $1,024.44. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $209.18 billion, a P/E ratio of 157.92, a PEG ratio of 5.48 and a beta of 0.98.

ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly 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 net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $1.21 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,343 shares of company stock worth $2,791,181 over the last quarter. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. 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. BMO Capital Markets lifted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. One investment 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $970.33.

Read Our Latest Stock Analysis on ServiceNow

About ServiceNow

(Free Report)

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.

See Also

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