Forbes J M & Co. LLP Has $8.39 Million Stock Position in ServiceNow, Inc. $NOW

Forbes J M & Co. LLP grew its position in ServiceNow, Inc. (NYSE:NOW) by 400.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 54,739 shares of the information technology services provider’s stock after buying an additional 43,799 shares during the period. Forbes J M & Co. LLP’s holdings in ServiceNow were worth $8,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brady Martz Wealth Solutions LLC increased its stake in shares of ServiceNow by 1.3% in the 3rd quarter. Brady Martz Wealth Solutions LLC now owns 842 shares of the information technology services provider’s stock valued at $775,000 after buying an additional 11 shares during the period. Magnus Financial Group LLC increased its stake in shares of ServiceNow by 1.9% in the 3rd quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock valued at $542,000 after buying an additional 11 shares during the period. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 2.5% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock valued at $417,000 after buying an additional 11 shares during the period. Traveka Wealth LLC increased its stake in shares of ServiceNow by 3.8% in the 3rd quarter. Traveka Wealth LLC now owns 330 shares of the information technology services provider’s stock valued at $304,000 after buying an additional 12 shares during the period. Finally, Regatta Capital Group LLC increased its stake in shares of ServiceNow by 1.9% in the 3rd quarter. Regatta Capital Group LLC now owns 633 shares of the information technology services provider’s stock valued at $583,000 after buying an additional 12 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.5%

NYSE:NOW opened at $102.46 on Tuesday. The stock’s fifty day simple moving average is $109.76 and its 200-day simple moving average is $146.19. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $107.17 billion, a P/E ratio of 61.43, a P/E/G ratio of 1.71 and a beta of 1.01. ServiceNow, Inc. has a 12-month low of $98.00 and a 12-month high of $211.48.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Arete Research set a $200.00 target price on ServiceNow in a research note on Tuesday, January 6th. BMO Capital Markets reduced their price target on ServiceNow from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Thursday, January 29th. HSBC reduced their price target on ServiceNow from $266.40 to $226.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of ServiceNow in a research report on Thursday, January 29th. Finally, The Goldman Sachs Group set a $216.00 price target on ServiceNow in a research report on Monday, February 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.59.

Insiders Place Their Bets

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the transaction, the insider directly owned 26,314 shares in the company, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $101.17, for a total value of $151,755.00. Following the transaction, the director owned 46,430 shares in the company, valued at approximately $4,697,323.10. This represents a 3.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,237 shares of company stock worth $1,697,162. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.