DekaBank Deutsche Girozentrale Sells 6,431 Shares of ServiceNow, Inc. (NYSE:NOW)

DekaBank Deutsche Girozentrale reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 410,013 shares of the information technology services provider's stock after selling 6,431 shares during the period. DekaBank Deutsche Girozentrale owned 0.20% of ServiceNow worth $320,140,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NOW. Quarry LP bought a new stake in ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new position in ServiceNow in the fourth quarter valued at approximately $28,000. WASHINGTON TRUST Co lifted its stake in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter valued at $32,000. Finally, Heck Capital Advisors LLC bought a new stake in ServiceNow during the 4th quarter valued at $37,000. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In related news, General Counsel Russell S. Elmer sold 62 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 value of $63,426.00. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,955 shares of company stock valued at $6,862,195. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

NOW has been the topic of several research analyst reports. Bank of America decreased their price target on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus raised their price objective on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Canaccord Genuity Group dropped their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Oppenheimer reiterated an "outperform" rating and set a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Piper Sandler cut their price objective on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and a consensus price target of $1,068.23.

ServiceNow Stock Down 1.1%

Shares of NYSE:NOW traded down $11.65 during midday trading on Tuesday, reaching $1,023.36. The company had a trading volume of 1,459,490 shares, compared to its average volume of 1,485,947. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market cap of $211.82 billion, a PE ratio of 139.04, a P/E/G ratio of 4.80 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The business's 50 day moving average price is $1,005.88 and its 200 day moving average price is $961.79.

ServiceNow (NYSE:NOW - Get Free Report) last released 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 firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.41 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.