Generali Investments CEE investicni spolecnost a.s. Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Generali Investments CEE investicni spolecnost a.s. lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 277.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,400 shares of the information technology services provider's stock after purchasing an additional 2,500 shares during the period. Generali Investments CEE investicni spolecnost a.s.'s holdings in ServiceNow were worth $2,707,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOW. GAMMA Investing LLC lifted its holdings in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares during the last quarter. Norges Bank purchased a new position in ServiceNow in the fourth quarter worth $2,603,360,000. Proficio Capital Partners LLC grew its holdings in ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after purchasing an additional 666,383 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in ServiceNow by 36.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after purchasing an additional 491,861 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. TD Securities reissued a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an "outperform" rating in a report on Wednesday, May 7th. FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Stifel Nicolaus upped their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Price Performance

Shares of NYSE NOW traded up $36.27 during mid-day trading on Friday, reaching $1,046.03. The company had a trading volume of 1,205,886 shares, compared to its average volume of 1,487,467. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm has a market cap of $216.51 billion, a price-to-earnings ratio of 142.12, a PEG ratio of 4.80 and a beta of 0.94. The business's 50-day simple moving average is $1,003.94 and its 200 day simple moving average is $963.64.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business's quarterly revenue 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. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 428 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director directly owned 10,891 shares of the company's stock, valued at $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by 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.