Fortitude Family Office LLC Has $101,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Fortitude Family Office LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 18.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 95 shares of the information technology services provider’s stock after buying an additional 15 shares during the period. Fortitude Family Office LLC’s holdings in ServiceNow were worth $101,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NOW. MGO One Seven LLC raised its stake in shares of ServiceNow by 39.8% in the 2nd quarter. MGO One Seven LLC now owns 2,787 shares of the information technology services provider’s stock valued at $2,192,000 after acquiring an additional 794 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of ServiceNow by 9.3% in the second quarter. Hazlett Burt & Watson Inc. now owns 212 shares of the information technology services provider’s stock worth $167,000 after buying an additional 18 shares during the last quarter. Linscomb Wealth Inc. boosted its holdings in shares of ServiceNow by 3.3% during the 2nd quarter. Linscomb Wealth Inc. now owns 2,412 shares of the information technology services provider’s stock worth $1,897,000 after buying an additional 78 shares during the period. Achmea Investment Management B.V. grew its stake in ServiceNow by 1.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 14,748 shares of the information technology services provider’s stock valued at $11,602,000 after buying an additional 276 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its holdings in ServiceNow by 4.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 8,027 shares of the information technology services provider’s stock worth $6,315,000 after acquiring an additional 355 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock valued at $20,861,626 over the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

ServiceNow stock opened at $1,048.05 on Friday. The business’s fifty day moving average is $1,062.40 and its two-hundred day moving average is $919.80. 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 firm has a market cap of $215.90 billion, a P/E ratio of 162.99, a P/E/G ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Evercore ISI increased their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. JMP Securities boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,061.04.

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.