Duncker Streett & Co. Inc. Purchases 290 Shares of ServiceNow, Inc. (NYSE:NOW)

Duncker Streett & Co. Inc. boosted its position in ServiceNow, Inc. (NYSE:NOW) by 4.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,376 shares of the information technology services provider’s stock after acquiring an additional 290 shares during the period. ServiceNow accounts for 1.3% of Duncker Streett & Co. Inc.’s holdings, making the stock its 17th largest holding. Duncker Streett & Co. Inc.’s holdings in ServiceNow were worth $6,759,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at about $30,000. FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $37,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $37,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Citigroup cut their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Scotiabank initiated coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective on the stock. Mizuho boosted their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Up 0.9 %

NOW opened at $929.56 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $1,038.07 and a 200-day moving average price of $982.80. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market capitalization of $191.49 billion, a price-to-earnings ratio of 136.10, a PEG ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 net margin of 12.97% and a return on equity of 17.11%. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

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.