Fortis Capital Advisors LLC Has $2.38 Million Stake in ServiceNow, Inc. $NOW

Fortis Capital Advisors LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 15.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,315 shares of the information technology services provider’s stock after acquiring an additional 304 shares during the period. Fortis Capital Advisors LLC’s holdings in ServiceNow were worth $2,380,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Haverford Trust Co grew its position in shares of ServiceNow by 0.9% during the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after buying an additional 10 shares during the period. Ascent Group LLC grew its position in shares of ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after buying an additional 10 shares during the period. Edgemoor Investment Advisors Inc. grew its position in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after buying an additional 11 shares during the period. Integrated Investment Consultants LLC grew its position in shares of ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after buying an additional 11 shares during the period. Finally, one8zero8 LLC boosted its stake in ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after acquiring an additional 11 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $911.75 on Friday. The company’s fifty day simple moving average is $914.67 and its 200-day simple moving average is $929.33. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $189.64 billion, a PE ratio of 114.83, a P/E/G ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.13 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, June 12th. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Guggenheim reissued a “sell” rating and set a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Finally, FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,122.20.

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.