MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $5.68 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in ServiceNow, Inc. by 17.6% in Q2, holding 5,527 shares valued at approximately $5.68 million.
• Insider trading reports indicate significant sales by CFO Gina Mastantuono and CEO William R. McDermott, reducing their respective stock holdings by 12.59% and 46.83%.
• ServiceNow's latest quarterly earnings surpassed analyst expectations, reporting $4.09 EPS and $3.22 billion in revenue, up 22.4% year-over-year.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 17.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,527 shares of the information technology services provider's stock after acquiring an additional 826 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in ServiceNow were worth $5,682,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NOW. Brighton Jones LLC lifted its position in shares of ServiceNow by 1.1% in the 4th 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. Two Sigma Investments LP lifted its position in shares of ServiceNow by 1.5% during the 4th quarter. Two Sigma Investments LP now owns 4,405 shares of the information technology services provider's stock worth $4,670,000 after buying an additional 67 shares during the period. Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the 4th quarter worth approximately $37,000. Park Square Financial Group LLC bought a new position in shares of ServiceNow during the 4th quarter worth approximately $153,000. Finally, Wealthedge Investment Advisors LLC bought a new position in shares of ServiceNow during the 4th quarter worth approximately $1,996,000. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,976 shares of company stock valued at $17,049,775. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 0.6%

Shares of ServiceNow stock opened at $932.85 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The business has a fifty day simple moving average of $921.07 and a 200 day simple moving average of $924.60. The stock has a market cap of $194.03 billion, a PE ratio of 117.49, a price-to-earnings-growth ratio of 4.18 and a beta of 0.91.

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

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. Guggenheim restated a "sell" rating and set a $724.00 target price on shares of ServiceNow in a research report on Thursday, July 17th. Citigroup upped their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. BMO Capital Markets upped their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Barclays set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Oppenheimer reiterated an "outperform" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,122.20.

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.

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