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

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in ServiceNow, Inc. (NYSE:NOW) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,572 shares of the information technology services provider’s stock after buying an additional 163 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in ServiceNow were worth $3,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its position in ServiceNow by 74.4% in the second quarter. Public Sector Pension Investment Board now owns 7,884 shares of the information technology services provider’s stock worth $6,202,000 after purchasing an additional 3,364 shares during the last quarter. AlTi Global Inc. increased its position in shares of ServiceNow by 18.6% during the 2nd quarter. AlTi Global Inc. now owns 751 shares of the information technology services provider’s stock valued at $591,000 after purchasing an additional 118 shares during the last quarter. AQR Capital Management LLC lifted its position in ServiceNow by 9.4% in the second quarter. AQR Capital Management LLC now owns 156,227 shares of the information technology services provider’s stock worth $121,369,000 after buying an additional 13,367 shares during the last quarter. APG Asset Management US Inc. boosted its stake in ServiceNow by 2.4% during the second quarter. APG Asset Management US Inc. now owns 64,216 shares of the information technology services provider’s stock worth $50,664,000 after buying an additional 1,517 shares during the period. Finally, APG Asset Management N.V. increased its position in ServiceNow by 3.0% during the second quarter. APG Asset Management N.V. now owns 156,223 shares of the information technology services provider’s stock valued at $114,668,000 after acquiring an additional 4,597 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. TD Cowen lifted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Stock Performance

Shares of NOW opened at $1,132.30 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $233.25 billion, a PE ratio of 176.10, a P/E/G ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The stock has a fifty day moving average price of $1,072.95 and a 200-day moving average price of $938.64.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business posted $1.21 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last 90 days. 0.25% of the stock is currently owned by corporate 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.