Dock Street Asset Management Inc. Has $28.66 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Dock Street Asset Management Inc. lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 21.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,049 shares of the information technology services provider’s stock after acquiring an additional 5,621 shares during the quarter. ServiceNow accounts for about 3.9% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 10th largest holding. 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 large investors have also recently made changes to their positions in the company. M&G Plc purchased a new position in shares of ServiceNow in the first quarter worth approximately $11,030,000. AXA S.A. lifted its holdings in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares in the last quarter. HWG Holdings LP purchased a new position in ServiceNow during the second quarter valued at approximately $2,679,000. New Mexico Educational Retirement Board lifted its holdings in ServiceNow by 9.4% during the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after purchasing an additional 1,078 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Truist Financial boosted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Monday, September 9th. Robert W. Baird boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $923.00.

ServiceNow Trading Up 0.3 %

Shares of NYSE:NOW traded up $3.15 during midday trading on Tuesday, reaching $921.49. 255,704 shares of the company’s stock were exchanged, compared to its average volume of 1,268,051. The firm’s 50 day simple moving average is $876.85 and its two-hundred day simple moving average is $793.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $188.91 billion, a price-to-earnings ratio of 98.22, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction 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 owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,267 shares of company stock worth $5,935,447 over the last 90 days. 0.25% of the stock is owned by 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.