ServiceNow, Inc. (NYSE:NOW) Shares Acquired by DF Dent & Co. Inc.

DF Dent & Co. Inc. increased its position in ServiceNow, Inc. (NYSE:NOW) by 80.5% in the third quarter, Holdings Channel reports. The firm owned 25,307 shares of the information technology services provider’s stock after purchasing an additional 11,289 shares during the quarter. DF Dent & Co. Inc.’s holdings in ServiceNow were worth $22,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Bank of Montreal Can lifted its stake in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares during the last quarter. Wellington Management Group LLP lifted its stake in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. FMR LLC boosted its holdings in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in ServiceNow by 917.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 310,754 shares of the information technology services provider’s stock valued at $277,935,000 after purchasing an additional 280,210 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOW has been the topic of a number of recent research reports. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Truist Financial raised their target price on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Scotiabank began coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,011.26.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock valued at $20,861,626 over the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,124.34 on Friday. The firm has a 50-day moving average of $977.66 and a two-hundred day moving average of $855.37. The company has a market capitalization of $231.61 billion, a price-to-earnings ratio of 174.86, a PEG ratio of 6.45 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,137.00.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.