Asset Dedication LLC Has $2.80 Million Position in ServiceNow, Inc. (NYSE:NOW)

Asset Dedication LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,132 shares of the information technology services provider’s stock after purchasing an additional 63 shares during the quarter. Asset Dedication LLC’s holdings in ServiceNow were worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Swedbank AB bought a new stake in ServiceNow in the first quarter valued at $897,908,000. Global Assets Advisory LLC bought a new stake in ServiceNow in the 1st quarter valued at about $403,034,000. Vanguard Group Inc. raised its stake in ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the period. AustralianSuper Pty Ltd bought a new position in ServiceNow in the second quarter worth approximately $218,786,000. Finally, Acadian Asset Management LLC grew its stake in ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after acquiring an additional 271,073 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen upped their target price on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, JMP Securities lifted their price target on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $880.04.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 1.8 %

Shares of NYSE NOW opened at $927.96 on Wednesday. The business’s fifty day moving average price is $867.13 and its 200-day moving average price is $788.88. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $949.59. The stock has a market capitalization of $190.23 billion, a PE ratio of 99.25, a P/E/G ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current 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.