MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 31.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,701 shares of the information technology services provider's stock after acquiring an additional 1,129 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in ServiceNow were worth $3,743,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NOW. Janus Henderson Group PLC grew its stake in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after acquiring an additional 12,533 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in ServiceNow in the 4th quarter worth approximately $48,802,000. FMR LLC lifted its holdings in shares of ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Duncker Streett & Co. Inc. grew its stake in shares of ServiceNow by 4.8% in the fourth quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider's stock worth $6,759,000 after acquiring an additional 290 shares during the period. Finally, Nicholas Investment Partners LP raised its stake in ServiceNow by 223.5% during the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock valued at $2,974,000 after buying an additional 1,938 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Activity

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated 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 now owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NOW. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Morgan Stanley raised their price objective on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Raymond James Financial decreased their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays set a $1,085.00 price target on shares of ServiceNow in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $24.62 on Wednesday, reaching $980.29. The company's stock had a trading volume of 1,202,777 shares, compared to its average volume of 1,480,270. The stock has a 50-day moving average price of $953.73 and a 200-day moving average price of $972.40. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a market capitalization of $202.90 billion, a P/E ratio of 133.19, a PEG ratio of 4.63 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter last year, the firm earned $3.41 earnings per share. The business's revenue for the quarter was up 18.6% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current 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.