ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Forbes J M & Co. LLP

Forbes J M & Co. LLP increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,422 shares of the information technology services provider’s stock after buying an additional 19 shares during the period. Forbes J M & Co. LLP’s holdings in ServiceNow were worth $5,748,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in ServiceNow during the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter worth about $37,000. Oakworth Capital Inc. raised its stake in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC lifted its position in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Down 1.5 %

NOW stock opened at $1,007.79 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $207.61 billion, a PE ratio of 147.55, a P/E/G ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The firm has a 50 day simple moving average of $1,080.32 and a 200 day simple moving average of $963.81.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the topic of several research reports. JMP Securities restated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Jefferies Financial Group reduced their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Guggenheim reaffirmed a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. The Goldman Sachs Group raised their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Scotiabank started coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Buying and Selling

In related news, insider Kevin Thomas Mcbride sold 100 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the completion of the sale, the insider now directly owns 3,457 shares in the company, valued at approximately $3,539,864.29. This trade represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,702 shares of company stock valued at $20,965,306. 0.25% of the stock is owned by corporate insiders.

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.