Dakota Wealth Management Purchases 3,639 Shares of ServiceNow, Inc. (NYSE:NOW)

Dakota Wealth Management raised its position in ServiceNow, Inc. (NYSE:NOW) by 33.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,477 shares of the information technology services provider’s stock after acquiring an additional 3,639 shares during the quarter. Dakota Wealth Management’s holdings in ServiceNow were worth $12,948,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NOW. Thrive Wealth Management LLC increased its position in ServiceNow by 7.7% during the 1st quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock valued at $297,000 after buying an additional 28 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of ServiceNow by 15.4% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock valued at $935,000 after purchasing an additional 164 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of ServiceNow in the 1st quarter valued at approximately $138,000. Webster Bank N. A. boosted its stake in ServiceNow by 16.8% in the 1st quarter. Webster Bank N. A. now owns 4,025 shares of the information technology services provider’s stock worth $3,069,000 after purchasing an additional 580 shares in the last quarter. Finally, Independence Bank of Kentucky grew its position in ServiceNow by 27.2% during the 1st quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock worth $89,000 after purchasing an additional 25 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents 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 available through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets raised 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. Oppenheimer raised their target price on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Needham & Company LLC boosted their price target on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $900.00 to $960.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.22.

ServiceNow Trading Up 5.4 %

Shares of NOW stock opened at $956.40 on Friday. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $979.78. The company has a market cap of $197.02 billion, a price-to-earnings ratio of 172.95, a PEG ratio of 5.04 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. The stock has a 50 day simple moving average of $880.60 and a 200-day simple moving average of $795.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 11.51% and a return on equity of 14.52%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 7.41 EPS for the current fiscal year.

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.