DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 36.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,830,419 shares of the information technology services provider's stock after purchasing an additional 491,861 shares during the period. ServiceNow accounts for about 2.0% of DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings, making the stock its 10th biggest position. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.89% of ServiceNow worth $1,940,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after buying an additional 10 shares during the last quarter. Institute for Wealth Management LLC. increased its position in ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after buying an additional 11 shares in the last quarter. TBH Global Asset Management LLC increased its position in ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after buying an additional 11 shares in the last quarter. Finally, Onefund LLC raised its stake in ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after buying an additional 11 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock traded up $6.64 during mid-day trading on Friday, hitting $981.13. The stock had a trading volume of 919,297 shares, compared to its average volume of 1,513,425. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $203.09 billion, a P/E ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97. The firm's 50 day moving average is $844.85 and its 200 day moving average is $970.05.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding 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 programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NOW shares. Citigroup raised their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday. Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Sanford C. Bernstein reiterated an "outperform" rating and set a $1,003.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Finally, StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,048.55.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 191 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $188,135.00. Following the completion of the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,267,020. This represents a 4.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 292 shares of ServiceNow stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the completion of the sale, the chief financial officer now owns 11,198 shares in the company, valued at approximately $11,030,030. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,150 shares of company stock valued at $16,550,424 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

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.