DF Dent & Co. Inc. Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

DF Dent & Co. Inc. boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 80.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,307 shares of the information technology services provider’s stock after acquiring an additional 11,289 shares during the period. DF Dent & Co. Inc.’s holdings in ServiceNow were worth $22,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NOW. Polymer Capital Management HK LTD grew its position in shares of ServiceNow by 57.0% in the third 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 purchasing an additional 981 shares during the last quarter. AXA S.A. lifted its stake in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares in the last quarter. Avidian Wealth Enterprises LLC grew its holdings in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after buying an additional 138 shares during the last quarter. Venturi Wealth Management LLC increased its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after buying an additional 765 shares in the last quarter. Finally, HWG Holdings LP purchased a new position in ServiceNow during the second quarter worth $2,679,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE:NOW opened at $1,124.34 on Friday. The firm’s fifty day simple moving average is $977.66 and its 200 day simple moving average is $855.37. 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. The firm 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.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOW. Wells Fargo & Company increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets lifted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Robert W. Baird upped their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein boosted their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,011.26.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

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.