Fortis Capital Management LLC Sells 29 Shares of ServiceNow, Inc. (NYSE:NOW)

Fortis Capital Management LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,336 shares of the information technology services provider’s stock after selling 29 shares during the period. ServiceNow comprises 1.1% of Fortis Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Fortis Capital Management LLC’s holdings in ServiceNow were worth $5,667,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow during the first quarter valued at approximately $25,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares in the last quarter. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in ServiceNow in the second quarter worth $32,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,259 shares of company stock worth $4,955,741. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.3 %

Shares of NOW opened at $1,045.53 on Thursday. The business’s 50 day simple moving average is $920.45 and its 200-day simple moving average is $818.12. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $215.38 billion, a price-to-earnings ratio of 162.60, a price-to-earnings-growth ratio of 6.02 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. JMP Securities lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Sanford C. Bernstein boosted their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, TD Cowen upped their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $974.04.

About ServiceNow

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.