Forum Financial Management LP Acquires 278 Shares of ServiceNow, Inc. (NYSE:NOW)

Forum Financial Management LP boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 52.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 806 shares of the information technology services provider’s stock after purchasing an additional 278 shares during the quarter. Forum Financial Management LP’s holdings in ServiceNow were worth $855,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital International Ltd. CA lifted its holdings in shares of ServiceNow by 1.3% in the fourth quarter. Capital International Ltd. CA now owns 22,212 shares of the information technology services provider’s stock worth $23,547,000 after buying an additional 286 shares in the last quarter. Capital Group Investment Management PTE. LTD. lifted its stake in ServiceNow by 1.7% in the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 4,827 shares of the information technology services provider’s stock worth $5,117,000 after purchasing an additional 83 shares in the last quarter. Capital International Sarl boosted its holdings in shares of ServiceNow by 5.6% during the 4th quarter. Capital International Sarl now owns 34,602 shares of the information technology services provider’s stock valued at $36,682,000 after purchasing an additional 1,833 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of ServiceNow by 3.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 194,403 shares of the information technology services provider’s stock valued at $205,889,000 after purchasing an additional 6,372 shares in the last quarter. Finally, Fairfield Bush & CO. increased its holdings in shares of ServiceNow by 3.6% in the fourth quarter. Fairfield Bush & CO. now owns 1,293 shares of the information technology services provider’s stock worth $1,371,000 after purchasing an additional 45 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,435,554.47. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,250 shares of company stock valued at $19,853,273. Insiders own 0.38% of the company’s stock.

ServiceNow Trading Down 3.1 %

Shares of NYSE:NOW opened at $772.18 on Friday. The business’s 50-day moving average is $852.94 and its 200 day moving average is $970.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a market capitalization of $159.84 billion, a P/E ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08.

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

ServiceNow announced that its board has initiated a stock repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. Jefferies Financial Group dropped their price target on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Mizuho decreased their price target on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Finally, StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,057.17.

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.