ServiceNow, Inc. (NYSE:NOW) is Dock Street Asset Management Inc.'s 9th Largest Position

Dock Street Asset Management Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 28.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,443 shares of the information technology services provider's stock after buying an additional 9,289 shares during the quarter. ServiceNow comprises 4.0% of Dock Street Asset Management Inc.'s holdings, making the stock its 9th largest position. Dock Street Asset Management Inc.'s holdings in ServiceNow were worth $33,791,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its holdings in ServiceNow by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after purchasing an additional 12,533 shares during the last quarter. FMR LLC boosted its holdings in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new position in ServiceNow in the 1st quarter valued at about $1,820,000. Nicholas Investment Partners LP lifted its position in shares of ServiceNow by 223.5% during the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after purchasing an additional 1,938 shares in the last quarter. Finally, OMNI 360 Wealth Inc. purchased a new position in shares of ServiceNow in the first quarter valued at approximately $285,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

ServiceNow stock traded down $30.97 during trading hours on Friday, reaching $937.12. 2,144,933 shares of the stock were exchanged, compared to its average volume of 1,486,117. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a market cap of $193.97 billion, a P/E ratio of 127.33, a P/E/G ratio of 4.31 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The firm's 50 day moving average is $1,008.08 and its 200 day moving average is $959.58.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the company posted $3.41 earnings per share. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares in the company, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Deborah Black sold 598 shares of the business's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the sale, the director owned 428 shares in the company, valued at $402,418.44. The trade was a 58.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,955 shares of company stock worth $6,862,195. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NOW shares. Piper Sandler dropped their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada lifted their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company boosted their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,100.00 target price (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.23.

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.