FORA Capital LLC Purchases Shares of 6,237 ServiceNow, Inc. (NYSE:NOW)

FORA Capital LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,237 shares of the information technology services provider's stock, valued at approximately $6,612,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter valued at about $2,603,360,000. Proficio Capital Partners LLC boosted its holdings in ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after buying an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in ServiceNow during the fourth quarter valued at $682,468,000. Price T Rowe Associates Inc. MD grew its position in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after acquiring an additional 509,467 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in ServiceNow by 36.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after purchasing an additional 491,861 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity at ServiceNow

In related news, Director Jeffrey A. Miller sold 2,282 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the transaction, the director now owns 40,638 shares in the company, valued at approximately $41,883,148.32. This trade represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,692 shares of company stock valued at $18,173,444. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on NOW. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Bank of America dropped their price target on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Barclays set a $1,085.00 target price on shares of ServiceNow in a research note on Wednesday. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and increased their target price for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Finally, BMO Capital Markets dropped their price objective on shares of ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,048.55.

ServiceNow Price Performance

Shares of NYSE NOW opened at $982.98 on Thursday. The company has a market cap of $203.48 billion, a PE ratio of 143.92, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a fifty day moving average price of $842.03 and a 200 day moving average price of $969.22.

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

ServiceNow announced that its board has initiated a stock repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

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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