Dohj LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Dohj LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,293 shares of the information technology services provider’s stock, valued at approximately $913,000.

A number of other hedge funds have also recently modified their holdings of NOW. Vanguard Group Inc. boosted its stake in ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after purchasing an additional 122,577 shares in the last quarter. FMR LLC boosted its stake in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares in the last quarter. Jennison Associates LLC boosted its stake in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after purchasing an additional 53,719 shares in the last quarter. Northern Trust Corp boosted its stake in ServiceNow by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock worth $1,230,994,000 after purchasing an additional 39,259 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in ServiceNow by 3.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock worth $1,230,114,000 after purchasing an additional 72,570 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock traded up $7.30 during midday trading on Friday, hitting $723.55. The stock had a trading volume of 1,445,884 shares, compared to its average volume of 1,087,368. The firm’s fifty day moving average is $759.21 and its two-hundred day moving average is $708.95. The company has a market capitalization of $148.60 billion, a PE ratio of 77.39, a P/E/G ratio of 4.57 and a beta of 0.97. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, research analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Stifel Nicolaus reissued a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Mizuho boosted their target price on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Truist Financial boosted their target price on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley boosted their target price on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $792.00.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last three months. 0.25% of the stock is owned by company insiders.

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.