Dohj LLC Reduces Stock Position in ServiceNow, Inc. (NYSE:NOW)

Dohj LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,391 shares of the information technology services provider’s stock after selling 103 shares during the period. Dohj LLC’s holdings in ServiceNow were worth $1,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in ServiceNow during the third quarter valued at approximately $30,000. DT Investment Partners LLC grew its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth $37,000. Oakworth Capital Inc. raised its holdings in ServiceNow by 46.7% in 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 during the period. Finally, Dunhill Financial LLC lifted its position in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group upped their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Evercore ISI increased their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group lifted their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. Finally, KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.93.

ServiceNow Trading Up 0.7 %

Shares of NOW stock opened at $1,020.17 on Friday. The company has a market cap of $210.16 billion, a PE ratio of 149.37, a price-to-earnings-growth ratio of 5.19 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock’s 50 day simple moving average is $1,083.66 and its two-hundred day simple moving average is $954.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.56% and a net margin of 12.97%. Research analysts predict that ServiceNow, Inc. will post 8.98 earnings per share for the current year.

ServiceNow announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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.