Assenagon Asset Management S.A. grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 131.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 243,888 shares of the information technology services provider's stock after acquiring an additional 138,403 shares during the period. Assenagon Asset Management S.A. owned 0.12% of ServiceNow worth $258,551,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Board of the Pension Protection Fund purchased a new position in shares of ServiceNow during the 4th quarter valued at about $212,000. Fifth Third Wealth Advisors LLC raised its stake in ServiceNow by 4.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,923 shares of the information technology services provider's stock worth $2,039,000 after acquiring an additional 83 shares during the period. Oak Thistle LLC purchased a new position in ServiceNow during the fourth quarter valued at approximately $217,000. Pines Wealth Management LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $497,000. Finally, Mayfair Advisory Group LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at $215,000. Hedge funds and other institutional investors own 87.18% of the company's stock.
ServiceNow stock opened at $1,029.85 on Wednesday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. 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 50-day moving average price of $1,066.34 and a 200-day moving average price of $927.52. The firm has a market capitalization of $212.15 billion, a PE ratio of 160.16, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99.
ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm's quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.
In related news, CEO William R. Mcdermott sold 12,271 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company's stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares of the company's stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,276 shares of company stock valued at $20,535,115. Insiders own 0.25% of the company's stock.
Several research analysts recently weighed in on NOW shares. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Needham & Company LLC upped their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Sanford C. Bernstein lifted their target price on ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,071.39.
View Our Latest Stock Report on NOW
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.
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