AFT Forsyth & Company Inc. purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,585 shares of the information technology services provider's stock, valued at approximately $1,944,000. ServiceNow makes up approximately 0.9% of AFT Forsyth & Company Inc.'s portfolio, making the stock its 17th largest holding.
Several other large investors have also recently added to or reduced their stakes in NOW. Florida Financial Advisors LLC boosted its stake in ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock valued at $280,000 after purchasing an additional 14 shares during the period. Clark Capital Management Group Inc. increased its stake in shares of ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock valued at $473,000 after purchasing an additional 18 shares during the period. American Trust increased its position in ServiceNow by 1.8% in the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider's stock valued at $947,000 after acquiring an additional 18 shares during the period. Morse Asset Management Inc raised its stake in ServiceNow by 0.5% during the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock valued at $3,586,000 after acquiring an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC boosted its position in ServiceNow by 3.7% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock worth $522,000 after acquiring an additional 20 shares during the period. 87.18% of the stock is currently owned by institutional investors.
ServiceNow Stock Performance
Shares of NOW opened at $128.09 on Tuesday. The company's 50 day moving average price is $109.36 and its 200 day moving average price is $105.79. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The company has a market capitalization of $132.45 billion, a PE ratio of 80.06, a PEG ratio of 2.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.
ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business's quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Research analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
NOW has been the topic of several research analyst reports. KeyCorp reissued an "underweight" rating on shares of ServiceNow in a research note on Tuesday, July 21st. Bank of America raised their price objective on shares of ServiceNow from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Royal Bank Of Canada reissued an "outperform" rating and set a $130.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $140.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Benchmark reiterated a "buy" rating on shares of ServiceNow in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.24.
Get Our Latest Report on ServiceNow
Insider Buying and Selling at ServiceNow
In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the sale, the director owned 46,690 shares in the company, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.
ServiceNow Profile
(
Free Report)
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.
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