Focus Partners Advisor Solutions LLC Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Focus Partners Advisor Solutions LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 78.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,617 shares of the information technology services provider's stock after buying an additional 709 shares during the period. Focus Partners Advisor Solutions LLC's holdings in ServiceNow were worth $1,714,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in ServiceNow in the fourth quarter valued at $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the fourth quarter valued at $32,000. FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow in the fourth quarter valued at $34,000. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. UBS Group reissued a "buy" rating and issued a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Evercore ISI raised their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Stifel Nicolaus raised their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,096,621. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,674 shares of company stock worth $2,510,213. Insiders own 0.38% of the company's stock.

ServiceNow Trading Up 1.8%

NOW stock traded up $18.58 during mid-day trading on Tuesday, reaching $1,022.95. 285,443 shares of the stock traded hands, compared to its average volume of 1,523,733. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The stock has a market capitalization of $211.73 billion, a PE ratio of 149.78, a PEG ratio of 4.51 and a beta of 0.97. The business has a 50-day moving average price of $884.98 and a two-hundred day moving average price of $974.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.41 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has approved a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in 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 plans are typically an indication that the company's board believes its stock is undervalued.

ServiceNow 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.