ServiceNow, Inc. (NYSE:NOW) Shares Purchased by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 61.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168 shares of the information technology services provider’s stock after purchasing an additional 64 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in ServiceNow were worth $132,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NOW. M&G Plc acquired a new position in shares of ServiceNow in the first quarter valued at about $11,030,000. Smithfield Trust Co raised its position in ServiceNow by 36.4% during the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after buying an additional 262 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after acquiring an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after purchasing an additional 1,078 shares during the period. Finally, Summa Corp. acquired a new position in shares of ServiceNow in the 4th quarter valued at about $381,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE:NOW opened at $855.00 on Monday. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $857.25. The company has a fifty day simple moving average of $791.80 and a two-hundred day simple moving average of $760.31. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $176.13 billion, a price-to-earnings ratio of 91.44, a price-to-earnings-growth ratio of 5.13 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. As a group, equities analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,129 shares of company stock worth $5,759,436. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NOW shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. TD Cowen lifted their price target on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Guggenheim reissued a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Wells Fargo & Company upped their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Piper Sandler lifted their price target on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $849.62.

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.