Dohj LLC Sells 103 Shares of ServiceNow, Inc. (NYSE:NOW)

Dohj LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,391 shares of the information technology services provider’s stock after selling 103 shares during the period. Dohj LLC’s holdings in ServiceNow were worth $1,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Western Financial Corp CA purchased a new stake in ServiceNow in the 4th quarter worth approximately $681,000. Destiny Wealth Partners LLC increased its holdings in shares of ServiceNow by 17.3% in the fourth quarter. Destiny Wealth Partners LLC now owns 421 shares of the information technology services provider’s stock worth $446,000 after purchasing an additional 62 shares during the period. Concord Wealth Partners raised its position in shares of ServiceNow by 9.8% in the fourth quarter. Concord Wealth Partners now owns 1,443 shares of the information technology services provider’s stock worth $1,530,000 after buying an additional 129 shares in the last quarter. Concord Asset Management LLC VA boosted its stake in ServiceNow by 6.3% during the fourth quarter. Concord Asset Management LLC VA now owns 1,458 shares of the information technology services provider’s stock valued at $1,546,000 after buying an additional 87 shares during the period. Finally, Chicago Partners Investment Group LLC grew its position in ServiceNow by 3.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 749 shares of the information technology services provider’s stock worth $786,000 after buying an additional 23 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.7 %

NYSE:NOW opened at $1,020.17 on Friday. The company has a 50-day moving average price of $1,083.66 and a 200-day moving average price of $954.46. The stock has a market cap of $210.16 billion, a price-to-earnings ratio of 149.37, a P/E/G ratio of 5.19 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 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.56%. Equities analysts predict that ServiceNow, Inc. will post 8.98 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOW. Cantor Fitzgerald started coverage on ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target for the company. Robert W. Baird cut their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research note on Thursday. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Truist Financial lifted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Canaccord Genuity Group increased their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,129.93.

ServiceNow Company 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.