Dock Street Asset Management Inc. Purchases 279 Shares of ServiceNow, Inc. (NYSE:NOW)

Dock Street Asset Management Inc. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,723 shares of the information technology services provider’s stock after purchasing an additional 279 shares during the period. ServiceNow accounts for 2.0% of Dock Street Asset Management Inc.’s holdings, 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOW. PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $28,000. First Capital Advisors Group LLC. acquired a new position in shares of ServiceNow during the 2nd quarter worth approximately $29,000. High Net Worth Advisory Group LLC acquired a new position in shares of ServiceNow during the 1st quarter worth approximately $29,000. AdvisorNet Financial Inc increased its holdings in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Steward Financial Group LLC increased its holdings in shares of ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NOW. Wells Fargo & Company upped their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a report on Wednesday, March 20th. Royal Bank of Canada upped their price objective on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. KeyCorp began coverage on ServiceNow in a report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price objective on the stock. Finally, Barclays upped their price objective on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $780.37.

ServiceNow Stock Up 0.2 %

Shares of NOW stock traded up $1.23 during trading hours on Thursday, reaching $737.68. The company had a trading volume of 279,857 shares, compared to its average volume of 1,164,261. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $767.53 and a 200-day simple moving average of $700.42. The company has a market cap of $151.50 billion, a price-to-earnings ratio of 87.79, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by company insiders.

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.