ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,723 shares of the information technology services provider’s stock after buying an additional 279 shares during the period. ServiceNow accounts for 2.0% of Dock Street Asset Management Inc.’s portfolio, making the stock its 20th biggest position. Dock Street Asset Management Inc.’s holdings in ServiceNow were worth $12,521,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wealth Management Partners LLC increased its position in shares of ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after acquiring an additional 14 shares during the period. Trust Co. of Vermont increased its position in shares of ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after acquiring an additional 15 shares during the period. Claro Advisors LLC increased its position in shares of ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after acquiring an additional 15 shares during the period. Country Club Bank GFN increased its position in shares of ServiceNow by 1.6% in the 4th quarter. Country Club Bank GFN now owns 951 shares of the information technology services provider’s stock valued at $668,000 after acquiring an additional 15 shares during the period. Finally, Nemes Rush Group LLC increased its position in shares of ServiceNow by 16.3% in the 3rd quarter. Nemes Rush Group LLC now owns 121 shares of the information technology services provider’s stock valued at $68,000 after acquiring an additional 17 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 0.2 %

Shares of NYSE NOW traded up $1.23 during midday trading on Thursday, reaching $737.68. 279,857 shares of the stock were exchanged, compared to its average volume of 1,164,261. The company has a 50 day simple moving average of $767.53 and a 200 day simple moving average of $700.42. The stock has a market capitalization of $151.50 billion, a P/E ratio of 87.79, a PEG ratio of 4.71 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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 net margin of 19.30% and a return on equity of 11.85%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the firm earned $0.88 EPS. The business’s revenue was up 25.6% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NOW. Oppenheimer upped their target price on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Jefferies Financial Group increased their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Citigroup increased their price target on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets increased their price target on ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target 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.