Fortis Capital Advisors LLC Purchases 304 Shares of ServiceNow, Inc. $NOW

Fortis Capital Advisors LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,315 shares of the information technology services provider's stock after buying an additional 304 shares during the period. Fortis Capital Advisors LLC's holdings in ServiceNow were worth $2,380,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in ServiceNow by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock valued at $15,522,335,000 after purchasing an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in ServiceNow by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock valued at $2,263,519,000 after purchasing an additional 188,292 shares during the last quarter. Nuveen LLC acquired a new position in ServiceNow during the 1st quarter valued at $1,817,535,000. Alliancebernstein L.P. raised its stake in ServiceNow by 16.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider's stock valued at $1,379,461,000 after purchasing an additional 242,132 shares during the last quarter. Finally, Amundi raised its stake in ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider's stock valued at $1,269,777,000 after purchasing an additional 626,623 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Up 0.2%

Shares of ServiceNow stock opened at $911.75 on Friday. The stock has a market capitalization of $189.64 billion, a P/E ratio of 114.83, a price-to-earnings-growth ratio of 4.10 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $914.67 and a 200 day simple moving average of $929.33. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the company posted $3.13 EPS. Research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOW shares. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley upgraded shares of ServiceNow from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Guggenheim restated a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,122.20.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares of the company's stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,737 shares of company stock worth $16,798,825. Corporate insiders own 0.38% of the company's stock.

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.

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