ServiceNow, Inc. (NYSE:NOW) is Dock Street Asset Management Inc.’s 10th Largest Position

Dock Street Asset Management Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 21.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,049 shares of the information technology services provider’s stock after purchasing an additional 5,621 shares during the period. ServiceNow makes up 3.9% of Dock Street Asset Management Inc.’s holdings, making the stock its 10th biggest position. Dock Street Asset Management Inc.’s holdings in ServiceNow were worth $28,664,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc boosted its stake 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 valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of ServiceNow during the second quarter valued at $32,000. Finally, TFC Financial Management Inc. boosted its stake in shares of ServiceNow by 466.7% during the first quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial raised their price target on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. TD Cowen lifted their price objective on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a report on Monday. Guggenheim restated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Finally, Robert W. Baird lifted their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $923.00.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’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 in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly 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 disclosure for this sale can be found here. Insiders have sold 7,267 shares of company stock worth $5,935,447 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Trading Up 0.3 %

Shares of ServiceNow stock traded up $3.15 on Tuesday, reaching $921.49. 255,704 shares of the company were exchanged, compared to its average volume of 1,268,051. The stock has a fifty day moving average price of $876.85 and a 200-day moving average price of $793.35. The firm has a market capitalization of $188.91 billion, a price-to-earnings ratio of 98.22, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, analysts expect that ServiceNow, Inc. will post 6.78 EPS 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.