Beese Fulmer Investment Management Inc. Lowers Stake in ServiceNow, Inc. (NYSE:NOW)

Beese Fulmer Investment Management Inc. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 20.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 434 shares of the information technology services provider’s stock after selling 112 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in ServiceNow were worth $388,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Creekmur Asset Management LLC purchased a new stake in ServiceNow during the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its holdings in shares of 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 during the period. EntryPoint Capital LLC grew its position 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 buying an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the second quarter worth about $32,000. Finally, Oakworth Capital Inc. increased its position in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC lifted their price target on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company upped their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Thursday. BMO Capital Markets lifted their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Oppenheimer upped their target price on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $970.22.

ServiceNow Trading Up 5.4 %

NYSE NOW opened at $956.40 on Friday. The company has a market cap of $197.02 billion, a P/E ratio of 172.95, a P/E/G ratio of 5.04 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $979.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50-day moving average of $880.60 and a 200-day moving average of $795.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

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.