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

FWG Holdings LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the 1st quarter valued at $25,000. Versant Capital Management Inc raised its holdings in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. DT Investment Partners LLC lifted its position in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the period. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $1,004.53 on Tuesday. 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 company has a market cap of $206.93 billion, a price-to-earnings ratio of 156.23, a PEG ratio of 5.80 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66. The firm has a 50 day moving average price of $935.45 and a 200 day moving average price of $827.30.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Jefferies Financial Group raised their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Truist Financial boosted their target price on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Robert W. Baird increased their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Mizuho boosted their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $983.18.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This trade represents a 2.13 % 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 Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,231 shares of company stock valued at $4,947,292. Company insiders own 0.25% 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.