Foresters Investment Management Company Inc. increased its stake in shares of ServiceNow Inc (NYSE:NOW) by 65.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,700 shares of the information technology services provider’s stock after acquiring an additional 16,900 shares during the quarter. Foresters Investment Management Company Inc.’s holdings in ServiceNow were worth $7,603,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Cerity Partners LLC lifted its position in ServiceNow by 3.6% during the fourth quarter. Cerity Partners LLC now owns 1,280 shares of the information technology services provider’s stock valued at $228,000 after purchasing an additional 45 shares during the last quarter. Aft Forsyth & Company Inc. raised its stake in shares of ServiceNow by 2.2% in the fourth quarter. Aft Forsyth & Company Inc. now owns 2,575 shares of the information technology services provider’s stock valued at $458,000 after acquiring an additional 55 shares during the period. Shine Investment Advisory Services Inc. raised its stake in shares of ServiceNow by 50.5% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 167 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 56 shares during the period. Castle Rock Wealth Management LLC raised its stake in shares of ServiceNow by 3.5% in the fourth quarter. Castle Rock Wealth Management LLC now owns 1,815 shares of the information technology services provider’s stock valued at $414,000 after acquiring an additional 61 shares during the period. Finally, Alpha Windward LLC raised its stake in shares of ServiceNow by 11.6% in the fourth quarter. Alpha Windward LLC now owns 604 shares of the information technology services provider’s stock valued at $108,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 97.07% of the company’s stock.

NOW stock opened at $241.59 on Friday. The stock has a market capitalization of $43.79 billion, a P/E ratio of 1,207.95, a P/E/G ratio of 24.46 and a beta of 1.44. ServiceNow Inc has a 12 month low of $147.63 and a 12 month high of $245.33. The company has a current ratio of 1.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $715.44 million for the quarter, compared to the consensus estimate of $717.73 million. ServiceNow had a negative net margin of 1.02% and a positive return on equity of 3.95%. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. On average, equities research analysts expect that ServiceNow Inc will post 0.35 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on NOW shares. Jefferies Financial Group increased their target price on shares of ServiceNow to $242.00 and gave the company a “buy” rating in a research note on Thursday, January 31st. Citigroup reissued a “buy” rating and issued a $240.00 target price (up previously from $200.00) on shares of ServiceNow in a research note on Thursday, January 31st. Bank of America reissued a “buy” rating and issued a $235.00 target price (up previously from $217.00) on shares of ServiceNow in a research note on Thursday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $243.00 target price (up previously from $224.00) on shares of ServiceNow in a research note on Thursday, January 31st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $240.00 target price (up previously from $210.00) on shares of ServiceNow in a research note on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the stock. ServiceNow has an average rating of “Buy” and a consensus price target of $227.75.

In other ServiceNow news, insider David Schneider sold 2,373 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $240.17, for a total transaction of $569,923.41. Following the transaction, the insider now owns 57,605 shares of the company’s stock, valued at approximately $13,834,992.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederic B. Luddy sold 22,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $238.46, for a total transaction of $5,246,120.00. Following the transaction, the director now directly owns 1,770 shares in the company, valued at approximately $422,074.20. The disclosure for this sale can be found here. Insiders have sold a total of 264,756 shares of company stock worth $57,018,261 in the last three months. Insiders own 1.60% of the company’s stock.

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ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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