Impax Asset Management Group plc Purchases 25,932 Shares of ServiceNow, Inc. (NYSE:NOW)

Impax Asset Management Group plc boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 51.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 76,559 shares of the information technology services provider's stock after purchasing an additional 25,932 shares during the period. Impax Asset Management Group plc's holdings in ServiceNow were worth $60,643,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of ServiceNow by 87,501.3% during 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 period. Norges Bank bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $2,603,360,000. Proficio Capital Partners LLC grew its position in shares of ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after acquiring an additional 666,383 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after acquiring an additional 509,467 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of ServiceNow by 36.7% during the 4th 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 buying an additional 491,861 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Up 3.6%

Shares of NOW traded up $36.27 during trading hours on Friday, reaching $1,046.03. 1,205,886 shares of the company traded hands, compared to its average volume of 1,487,467. 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 company has a market capitalization of $216.51 billion, a price-to-earnings ratio of 142.12, a price-to-earnings-growth ratio of 4.80 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company's fifty day moving average price is $1,003.94 and its two-hundred day moving average price is $962.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The business 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 business'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 company earned $3.41 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on NOW. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Morgan Stanley increased their target price on shares of ServiceNow from $950.00 to $1,040.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Oppenheimer reiterated an "outperform" rating and issued a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction that occurred 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 in the company, valued at $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider owned 3,000 shares of the company's stock, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by company insiders.

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.