DF Dent & Co. Inc. Acquires 111 Shares of ServiceNow, Inc. (NYSE:NOW)

DF Dent & Co. Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,418 shares of the information technology services provider’s stock after purchasing an additional 111 shares during the period. DF Dent & Co. Inc.’s holdings in ServiceNow were worth $26,946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Polymer Capital Management HK LTD increased its stake in shares of ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after acquiring an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the fourth quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. increased its stake in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after purchasing an additional 1,105 shares in the last quarter. Cardano Risk Management B.V. acquired a new stake in ServiceNow in the fourth quarter worth $105,090,000. Finally, Rheos Capital Works Inc. bought a new position in shares of ServiceNow during the fourth quarter worth $10,071,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their price objective on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Robert W. Baird dropped their target price on shares of ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,087.21.

ServiceNow Trading Up 1.6 %

Shares of NYSE NOW opened at $824.64 on Thursday. The stock has a market cap of $169.88 billion, a P/E ratio of 120.74, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The firm has a 50 day moving average price of $933.06 and a two-hundred day moving average price of $982.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.