F M Investments LLC Sells 105 Shares of ServiceNow, Inc. (NYSE:NOW)

F M Investments LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,801 shares of the information technology services provider’s stock after selling 105 shares during the quarter. ServiceNow accounts for approximately 1.1% of F M Investments LLC’s holdings, making the stock its 29th biggest holding. F M Investments LLC’s holdings in ServiceNow were worth $1,979,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC increased its holdings in ServiceNow by 2.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,183 shares of the information technology services provider’s stock valued at $646,000 after purchasing an additional 31 shares during the period. Summit Global Investments bought a new position in shares of ServiceNow during the third quarter valued at approximately $209,000. Capital Investment Advisors LLC purchased a new stake in ServiceNow in the third quarter worth $459,000. Impact Partnership Wealth LLC boosted its holdings in ServiceNow by 672.7% in the third quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 74 shares in the last quarter. Finally, Park Place Capital Corp lifted its position in shares of ServiceNow by 9.2% in the 3rd quarter. Park Place Capital Corp now owns 1,149 shares of the information technology services provider’s stock worth $642,000 after purchasing an additional 97 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 in the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $19.00 during midday trading on Tuesday, reaching $740.95. The company had a trading volume of 1,056,076 shares, compared to its average volume of 1,178,383. The stock has a fifty day simple moving average of $762.24 and a 200 day simple moving average of $706.46. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $152.18 billion, a price-to-earnings ratio of 88.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company earned $0.88 earnings per share. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the subject of several research analyst reports. Barclays raised their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Stifel Nicolaus restated a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Tuesday, April 16th. JMP Securities reissued a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a report on Tuesday. Finally, Royal Bank of Canada upped their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $780.37.

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.