Asset Dedication LLC Has $3.12 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Asset Dedication LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 6.2% during the 4th quarter, HoldingsChannel reports. The firm owned 2,939 shares of the information technology services provider’s stock after selling 193 shares during the quarter. Asset Dedication LLC’s holdings in ServiceNow were worth $3,116,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. grew its position in shares of ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 10 shares during the period. Catalyst Financial Partners LLC boosted its holdings in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after buying an additional 11 shares during the period. First Affirmative Financial Network boosted its holdings in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after buying an additional 12 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares during the period. Finally, BluePointe Capital Management LLC boosted its holdings in shares of ServiceNow by 0.6% during the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after buying an additional 12 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 2.7 %

NOW opened at $1,171.00 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $241.23 billion, a price-to-earnings ratio of 182.11, a PEG ratio of 5.11 and a beta of 0.99. The company’s 50 day moving average price is $1,082.77 and its two-hundred day moving average price is $950.94.

Insiders Place Their Bets

In other news, insider Kevin Thomas Mcbride sold 100 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $102,397.00. Following the sale, the insider now directly owns 3,457 shares of the company’s stock, valued at approximately $3,539,864.29. This represents a 2.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 target price for the company. The Goldman Sachs Group lifted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Mizuho lifted their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Raymond James assumed coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,105.79.

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.