DekaBank Deutsche Girozentrale Boosts Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• DekaBank Deutsche Girozentrale increased its stake in ServiceNow, Inc. by 1.6%, owning 416,444 shares worth approximately $428.8 million, making it the bank's 21st largest position.
• Insiders have sold a total of 18,737 shares of ServiceNow stock valued at around $16.8 million over the last ninety days, indicating notable selling activity.
• Analysts have mixed ratings for ServiceNow, with consensus showing a Moderate Buy rating and a target price averaging $1,121.37, despite some firms setting lower target prices due to market performance.

DekaBank Deutsche Girozentrale lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 416,444 shares of the information technology services provider's stock after acquiring an additional 6,431 shares during the quarter. ServiceNow accounts for about 0.8% of DekaBank Deutsche Girozentrale's portfolio, making the stock its 21st largest position. DekaBank Deutsche Girozentrale owned 0.20% of ServiceNow worth $428,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of NOW. Brighton Jones LLC increased its position in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the period. GAMMA Investing LLC increased its position in shares of ServiceNow by 10.0% during the first quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider's stock worth $2,689,000 after acquiring an additional 308 shares during the period. PFG Investments LLC increased its position in shares of ServiceNow by 17.8% during the first quarter. PFG Investments LLC now owns 1,596 shares of the information technology services provider's stock worth $1,271,000 after acquiring an additional 241 shares during the period. Garde Capital Inc. grew its stake in shares of ServiceNow by 12.1% during the first quarter. Garde Capital Inc. now owns 120 shares of the information technology services provider's stock worth $96,000 after purchasing an additional 13 shares in the last quarter. Finally, Intact Investment Management Inc. grew its stake in shares of ServiceNow by 3.7% during the first quarter. Intact Investment Management Inc. now owns 1,970 shares of the information technology services provider's stock worth $1,568,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the sale, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the sale, the chief financial officer owned 12,228 shares of the company's stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 over the last ninety days. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. Guggenheim reiterated a "sell" rating and set a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. Zacks Research upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Jefferies Financial Group boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, JMP Securities reiterated a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,121.37.

ServiceNow Stock Performance

NYSE NOW opened at $904.57 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a market capitalization of $188.15 billion, a PE ratio of 113.93, a P/E/G ratio of 4.07 and a beta of 0.92. The company has a fifty day moving average of $910.30 and a two-hundred day moving average of $936.72.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm posted $3.13 earnings per share. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share 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.

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