Dynasty Wealth Management LLC Purchases 7,527 Shares of ServiceNow, Inc. $NOW

Dynasty Wealth Management LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 416.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,335 shares of the information technology services provider’s stock after purchasing an additional 7,527 shares during the period. Dynasty Wealth Management LLC’s holdings in ServiceNow were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC grew its holdings in ServiceNow by 540.5% in the 4th quarter. Natixis Advisors LLC now owns 1,967,156 shares of the information technology services provider’s stock valued at $301,349,000 after buying an additional 1,660,037 shares in the last quarter. Pincus Capital Management LP acquired a new stake in shares of ServiceNow during the fourth quarter worth $231,000. Beaton Management Co. Inc. boosted its position in shares of ServiceNow by 388.1% in the fourth quarter. Beaton Management Co. Inc. now owns 5,125 shares of the information technology services provider’s stock valued at $785,000 after acquiring an additional 4,075 shares during the period. Heritage Trust Co boosted its position in shares of ServiceNow by 397.4% in the fourth quarter. Heritage Trust Co now owns 9,745 shares of the information technology services provider’s stock valued at $1,493,000 after acquiring an additional 7,786 shares during the period. Finally, Strategic Advisors LLC grew its stake in shares of ServiceNow by 380.4% in the fourth quarter. Strategic Advisors LLC now owns 26,271 shares of the information technology services provider’s stock valued at $4,024,000 after acquiring an additional 20,802 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 7.7%

Shares of NOW stock opened at $117.86 on Thursday. The stock’s fifty day moving average price is $98.99 and its two-hundred day moving average price is $122.45. The company has a market cap of $121.51 billion, a PE ratio of 70.24, a P/E/G ratio of 2.11 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOWGet Free Report) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Equities analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NOW. Robert W. Baird lowered their price target on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. BMO Capital Markets decreased their target price on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. BTIG Research reaffirmed a “buy” rating and set a $150.00 target price on shares of ServiceNow in a report on Monday, May 4th. HSBC dropped their price target on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Finally, Citic Securities reduced their price target on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.85.

View Our Latest Analysis on NOW

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

ServiceNow Company Profile

(Free Report)

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

See Also

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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