Dakota Wealth Management Purchases 281 Shares of ServiceNow, Inc. $NOW

Dakota Wealth Management grew its stake in ServiceNow, Inc. (NYSE:NOW) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,285 shares of the information technology services provider’s stock after acquiring an additional 281 shares during the period. Dakota Wealth Management’s holdings in ServiceNow were worth $9,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in ServiceNow in the first quarter valued at approximately $26,000. WASHINGTON TRUST Co increased its holdings in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in ServiceNow during the 2nd quarter valued at $30,000. Finally, Dagco Inc. acquired a new stake in ServiceNow during the 1st quarter valued at $33,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. This represents a 76.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,976 shares of company stock worth $17,049,775. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $932.85 on Thursday. The stock has a market cap of $194.03 billion, a P/E ratio of 117.49, a price-to-earnings-growth ratio of 4.18 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average is $921.07 and its 200-day moving average is $924.60. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.13 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NOW shares. Mizuho boosted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, June 12th. Piper Sandler raised their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Wells Fargo & Company raised their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

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.