AG2R LA Mondiale Gestion D Actifs Invests $6.07 Million in ServiceNow, Inc. $NOW

Key Points

• AG2R LA Mondiale Gestion D Actifs has invested approximately $6.07 million in ServiceNow, Inc., acquiring 7,619 shares in the first quarter.
• ServiceNow reported earnings of $4.09 per share for the last quarter, surpassing analysts' estimates, with revenue growth of 22.4% year-over-year.
• Analysts have raised price targets for ServiceNow, with Bank of America increasing its target to $1,200 and maintaining a "buy" rating.

AG2R LA Mondiale Gestion D Actifs bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,619 shares of the information technology services provider's stock, valued at approximately $6,066,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Haverford Trust Co lifted its holdings in shares of ServiceNow by 0.9% during the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock worth $936,000 after acquiring an additional 10 shares during the period. Ascent Group LLC boosted its stake in ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock worth $1,628,000 after acquiring an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. lifted its stake in shares of ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after buying an additional 11 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in shares of ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after purchasing an additional 11 shares during the last quarter. Finally, one8zero8 LLC raised its holdings in shares of ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 1.8%

NYSE NOW opened at $940.23 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $929.66 and a two-hundred day moving average of $922.41. The firm has a market capitalization of $195.57 billion, a price-to-earnings ratio of 118.42, a PEG ratio of 4.17 and a beta of 0.91. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.13 earnings per share. On average, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

NOW has been the topic of several research reports. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Piper Sandler upped their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Guggenheim reissued a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Bank of America upped their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Mizuho upped their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the transaction, the insider directly owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock valued at $17,049,775 in the last three months. 0.38% of the stock is currently owned by company insiders.

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.

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