Assenagon Asset Management S.A. Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Assenagon Asset Management S.A. raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 270,973 shares of the information technology services provider's stock after purchasing an additional 27,085 shares during the quarter. Assenagon Asset Management S.A. owned 0.13% of ServiceNow worth $215,732,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. MV Capital Management Inc. lifted its holdings in shares of ServiceNow by 65.7% in the first quarter. MV Capital Management Inc. now owns 290 shares of the information technology services provider's stock worth $231,000 after buying an additional 115 shares in the last quarter. Trueblood Wealth Management LLC increased its position in ServiceNow by 16.8% during the first quarter. Trueblood Wealth Management LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after acquiring an additional 83 shares during the last quarter. Integral Investment Advisors Inc. increased its position in ServiceNow by 22.5% during the first quarter. Integral Investment Advisors Inc. now owns 604 shares of the information technology services provider's stock valued at $481,000 after acquiring an additional 111 shares during the last quarter. Sarasin & Partners LLP purchased a new position in ServiceNow in the 1st quarter worth about $59,577,000. Finally, Petredis Investment Advisors LLC increased its stake in ServiceNow by 0.9% in the 1st quarter. Petredis Investment Advisors LLC now owns 6,404 shares of the information technology services provider's stock worth $5,098,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOW shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,048.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Royal Bank of Canada lifted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. TD Securities restated a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Finally, BMO Capital Markets lifted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 248 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the sale, the director now directly owns 10,643 shares of the company's stock, valued at $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 over the last three months. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Down 2.0%

Shares of ServiceNow stock traded down $19.66 on Friday, reaching $987.71. 1,332,159 shares of the company were exchanged, compared to its average volume of 1,483,399. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a market cap of $204.44 billion, a P/E ratio of 144.61, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock's 50 day moving average price is $944.56 and its 200-day moving average price is $973.45.

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

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.