ServiceNow, Inc. (NYSE:NOW) Shares Sold by Asset Dedication LLC

Asset Dedication LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NOW. Truvestments Capital LLC purchased a new position in ServiceNow during the 3rd quarter worth approximately $30,000. DT Investment Partners LLC grew its position in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Oakworth Capital Inc. grew its position in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares in the last quarter. Dunhill Financial LLC grew its position in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares in the last quarter. Finally, Vestor Capital LLC purchased a new position in ServiceNow during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOW. JMP Securities boosted their price target on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a report on Tuesday, January 21st. Cantor Fitzgerald began coverage on shares of ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $900.00 to $960.00 in a report on Monday, October 21st. Jefferies Financial Group boosted their price target on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, TD Cowen boosted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,105.79.

ServiceNow Stock Performance

NYSE:NOW opened at $1,171.00 on Wednesday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $241.23 billion, a PE ratio of 182.11, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The firm has a 50-day moving average price of $1,082.77 and a 200 day moving average price of $950.94.

About ServiceNow

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.