Groupama Asset Managment Acquires 4,654 Shares of ServiceNow, Inc. $NOW

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Groupama Asset Managment grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 42.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,596 shares of the information technology services provider's stock after buying an additional 4,654 shares during the period. Groupama Asset Managment's holdings in ServiceNow were worth $12,442,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NOW. Bogart Wealth LLC raised its position in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow in the 1st quarter worth about $26,000. Quarry LP purchased a new position in shares of ServiceNow in the 4th quarter worth about $27,000. WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Dagco Inc. purchased a new position in shares of ServiceNow in the 1st quarter worth about $33,000. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other news, Director Lawrence Jackson sold 757 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total transaction of $749,808.50. Following the sale, the director directly owned 588 shares of the company's stock, valued at $582,414. This represents a 56.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 239 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total value of $250,950.00. Following the sale, the director directly owned 10,404 shares in the company, valued at $10,924,200. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,038 shares of company stock worth $5,971,973. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and lifted their price target for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Piper Sandler boosted their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Evercore ISI boosted their target price on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. TD Securities reissued a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Trading Up 2.7%

NOW stock opened at $890.73 on Tuesday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $185.27 billion, a price-to-earnings ratio of 112.18, a PEG ratio of 3.91 and a beta of 0.93. The business has a 50 day simple moving average of $964.30 and a two-hundred day simple moving average of $932.15.

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

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.