Foster Group Inc. Makes New $316,000 Investment in ServiceNow, Inc. $NOW

Foster Group Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 307 shares of the information technology services provider's stock, valued at approximately $316,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in ServiceNow by 20.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,059 shares of the information technology services provider's stock worth $4,173,000 after acquiring an additional 681 shares in the last quarter. S.A. Mason LLC bought a new position in ServiceNow in the 2nd quarter worth about $114,000. Clear Harbor Asset Management LLC bought a new position in shares of ServiceNow during the second quarter valued at approximately $219,000. Masso Torrence Wealth Management Inc. bought a new position in shares of ServiceNow during the second quarter valued at approximately $225,000. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of ServiceNow by 97.1% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 2,020 shares of the information technology services provider's stock valued at $2,077,000 after purchasing an additional 995 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NOW shares. Wells Fargo & Company increased their price objective 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. FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Raymond James Financial increased their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Trading Down 1.3%

Shares of ServiceNow stock opened at $948.49 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a fifty day moving average price of $922.33 and a 200 day moving average price of $924.52. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The stock has a market cap of $197.29 billion, a PE ratio of 119.46, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91.

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

Insider Activity

In related news, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,976 shares of company stock valued at $17,049,775 over the last quarter. Insiders own 0.38% of the company's stock.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.