Fortis Capital Advisors LLC Buys 386 Shares of ServiceNow, Inc. (NYSE:NOW)

Fortis Capital Advisors LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,679 shares of the information technology services provider's stock after acquiring an additional 386 shares during the quarter. ServiceNow comprises approximately 0.9% of Fortis Capital Advisors LLC's investment portfolio, making the stock its 15th largest holding. Fortis Capital Advisors LLC's holdings in ServiceNow were worth $2,840,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new stake in ServiceNow during the third quarter valued at $551,000. Virtu Financial LLC purchased a new position in ServiceNow during the third quarter worth approximately $9,833,000. Anchor Investment Management LLC raised its stake in shares of ServiceNow by 6.1% during the 3rd quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider's stock worth $1,220,000 after buying an additional 78 shares during the period. Stock Yards Bank & Trust Co. purchased a new position in shares of ServiceNow during the 3rd quarter valued at approximately $202,000. Finally, Sanctuary Advisors LLC increased its holdings in ServiceNow by 8.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 27,542 shares of the information technology services provider's stock worth $24,633,000 after acquiring an additional 2,082 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,896 shares of company stock valued at $19,568,441. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Down 2.7 %

NOW stock traded down $21.46 during trading on Thursday, reaching $775.20. The stock had a trading volume of 977,998 shares, compared to its average volume of 1,471,608. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a market capitalization of $160.47 billion, a P/E ratio of 113.52, a PEG ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $862.65 and a 200 day moving average price of $971.02.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup lowered their price objective on ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. The Goldman Sachs Group lowered their target price on ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company cut their price objective on shares of ServiceNow from $1,250.00 to $1,100.00 and set an "overweight" rating for the company in a research report on Monday. Robert W. Baird decreased their price target on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Finally, Oppenheimer raised their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,057.17.

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.