ServiceNow, Inc. (NYSE:NOW) Stake Trimmed by Forsta AP Fonden

Forsta AP Fonden lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,200 shares of the information technology services provider's stock after selling 900 shares during the period. Forsta AP Fonden's holdings in ServiceNow were worth $47,131,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NOW. Edgemoor Investment Advisors Inc. lifted its holdings in shares of ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC increased its holdings in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after purchasing an additional 11 shares during the last quarter. one8zero8 LLC raised its position in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after purchasing an additional 11 shares during the period. Capital Investment Advisory Services LLC increased its holdings in ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 12 shares in the last quarter. Finally, Argent Trust Co increased its stake in ServiceNow by 0.4% in the 1st quarter. Argent Trust Co now owns 3,363 shares of the information technology services provider's stock valued at $2,677,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. DA Davidson increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and increased their price objective for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Finally, Barclays set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $147,900.00. Following the sale, the insider directly owned 3,027 shares in the company, valued at approximately $3,087,540. The trade was a 4.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence Jackson sold 757 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total transaction of $749,808.50. Following the transaction, the director directly owned 588 shares of the company's stock, valued at $582,414. This trade represents a 56.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,250 shares of company stock valued at $5,318,667 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Down 4.4%

Shares of NOW opened at $872.31 on Friday. The business's 50 day moving average is $985.72 and its 200 day moving average is $946.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a market capitalization of $181.44 billion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93.

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

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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