MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 826 Shares of ServiceNow, Inc. $NOW

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in ServiceNow, Inc. (NYSE:NOW) by 17.6% during the second quarter, HoldingsChannel.com reports. The firm owned 5,527 shares of the information technology services provider’s stock after buying 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.

Other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow in the second quarter valued at about $30,000. Bogart Wealth LLC raised its holdings in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in ServiceNow during the first quarter worth about $26,000. Heck Capital Advisors LLC bought a new stake in ServiceNow in the fourth quarter valued at approximately $37,000. Finally, WASHINGTON TRUST Co raised its stake in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 0.6%

Shares of NYSE:NOW opened at $932.85 on Thursday. The company has a market capitalization of $194.03 billion, a P/E ratio of 117.49, a P/E/G ratio of 4.18 and a beta of 0.91. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business’s 50 day simple moving average is $921.07 and its 200 day simple moving average is $924.60.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the company earned $3.13 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction on Thursday, August 28th. The stock was 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 in the company, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction on Monday, August 18th. The shares were 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 owned 12,228 shares of the company’s stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock worth $17,049,775 in the last ninety days. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NOW. Morgan Stanley upgraded ServiceNow from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $1,040.00 to $1,250.00 in a research note on Wednesday. Bank of America upped their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Wells Fargo & Company upped their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Citigroup upped their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,122.20.

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.