Assenagon Asset Management S.A. Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Assenagon Asset Management S.A. boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 270,973 shares of the information technology services provider's stock after purchasing an additional 27,085 shares during the period. Assenagon Asset Management S.A. owned approximately 0.13% of ServiceNow worth $215,732,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quarry LP purchased a new stake in ServiceNow during the fourth quarter valued at $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $32,000. Noble Wealth Management PBC bought a new position in shares of ServiceNow in the 4th quarter worth approximately $34,000. Finally, FPC Investment Advisory Inc. boosted its holdings in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jacqueline P. Canney sold 66 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,096,621. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the transaction, the general counsel now owns 4,332 shares of the company's stock, valued at approximately $4,431,636. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NOW shares. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Barclays set a $1,085.00 target price on ServiceNow in a research report on Wednesday, May 7th. Royal Bank of Canada boosted their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $19.66 during trading hours on Friday, reaching $987.71. The company's stock had a trading volume of 1,332,159 shares, compared to its average volume of 1,479,852. The firm has a 50 day moving average price of $939.30 and a 200-day moving average price of $974.01. 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 has a market cap of $204.44 billion, a P/E ratio of 144.61, a P/E/G ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The company 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 firm's revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $3.41 earnings per share. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.