ServiceNow, Inc. $NOW is Dock Street Asset Management Inc.’s 6th Largest Position

Dock Street Asset Management Inc. grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.9% in the second quarter, HoldingsChannel.com reports. The firm owned 44,538 shares of the information technology services provider’s stock after buying an additional 2,095 shares during the quarter. ServiceNow comprises approximately 4.3% of Dock Street Asset Management Inc.’s holdings, making the stock its 6th largest holding. Dock Street Asset Management Inc.’s holdings in ServiceNow were worth $45,789,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $382,000. Corient IA LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $796,000. Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $1,820,000. Goldman Sachs Group Inc. boosted its stake in shares of ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the period. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $19,278,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares in the company, valued at $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

NOW opened at $912.15 on Wednesday. The stock has a fifty day simple moving average of $909.39 and a two-hundred day simple moving average of $933.73. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $189.73 billion, a price-to-earnings ratio of 114.88, a price-to-earnings-growth ratio of 4.16 and a beta of 0.92. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.13 earnings per share. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Finally, DA Davidson raised their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,121.37.

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.