FWG Holdings LLC Raises Position in ServiceNow, Inc. (NYSE:NOW)

FWG Holdings LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 2.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 713 shares of the information technology services provider’s stock after purchasing an additional 18 shares during the quarter. FWG Holdings LLC’s holdings in ServiceNow were worth $674,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NOW. Catalyst Financial Partners LLC grew its position in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares in the last quarter. First Affirmative Financial Network grew its holdings in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares during the period. BluePointe Capital Management LLC lifted its holdings in ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after buying an additional 12 shares in the last quarter. Finally, Morling Financial Advisors LLC lifted its holdings in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. KeyCorp lifted their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. TD Cowen upped their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday. They set a “sector outperform” rating and a $1,230.00 price target for the company. Finally, JMP Securities upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $983.18.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,231 shares of company stock worth $4,947,292. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

NYSE NOW opened at $1,004.53 on Tuesday. The stock has a market capitalization of $206.93 billion, a P/E ratio of 156.23, a P/E/G ratio of 5.80 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The business’s fifty day moving average is $935.45 and its two-hundred day moving average is $827.30. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted $1.21 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 7.07 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.