ServiceNow, Inc. (NYSE:NOW) Stock Holdings Lifted by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,154 shares of the information technology services provider’s stock after purchasing an additional 1,105 shares during the quarter. ServiceNow makes up approximately 4.2% of Dock Street Asset Management Inc.’s holdings, making the stock its 9th biggest position. Dock Street Asset Management Inc.’s holdings in ServiceNow were worth $35,147,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Dynamic Advisor Solutions LLC lifted its position in shares of ServiceNow by 7.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,427 shares of the information technology services provider’s stock valued at $3,065,000 after buying an additional 239 shares in the last quarter. Daymark Wealth Partners LLC grew its position in shares of ServiceNow by 31.8% during the third quarter. Daymark Wealth Partners LLC now owns 742 shares of the information technology services provider’s stock worth $664,000 after purchasing an additional 179 shares in the last quarter. Wedmont Private Capital lifted its holdings in ServiceNow by 10.0% in the 3rd quarter. Wedmont Private Capital now owns 2,330 shares of the information technology services provider’s stock worth $2,111,000 after purchasing an additional 211 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its stake in ServiceNow by 1.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 12,174 shares of the information technology services provider’s stock worth $10,888,000 after purchasing an additional 130 shares during the period. Finally, USA Financial Formulas raised its position in shares of ServiceNow by 3,250.0% during the third quarter. USA Financial Formulas now owns 268 shares of the information technology services provider’s stock valued at $240,000 after buying an additional 260 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Larry Quinlan sold 415 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the completion of the sale, the director now directly owns 1,737 shares of the company’s stock, valued at $1,749,871.17. The trade was a 19.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,702 shares of company stock valued at $20,965,306. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Scotiabank began coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Trading Down 0.4 %

NYSE:NOW opened at $1,022.95 on Friday. The firm has a 50-day simple moving average of $1,081.18 and a 200-day simple moving average of $962.06. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a market cap of $210.73 billion, a P/E ratio of 149.77, a P/E/G ratio of 4.74 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities analysts anticipate that ServiceNow, Inc. will post 8.94 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

ServiceNow 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.