ServiceNow, Inc. (NYSE:NOW) Shares Acquired by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,572 shares of the information technology services provider’s stock after acquiring an additional 163 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in ServiceNow were worth $3,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. World Investment Advisors LLC grew its holdings in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. International Assets Investment Management LLC increased its holdings in ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Bank of Montreal Can lifted its holdings in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares in the last quarter. Wellington Management Group LLP grew its position in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the period. Finally, FMR LLC increased its stake in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. BMO Capital Markets boosted their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, December 2nd. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald started coverage on shares of ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

Insiders Place Their Bets

In related news, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $1,132.30 on Friday. The firm has a market cap of $233.25 billion, a price-to-earnings ratio of 176.10, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The firm’s fifty day moving average price is $1,072.95 and its 200 day moving average price is $938.64.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business posted $1.21 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current year.

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.