Groupama Asset Managment Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Groupama Asset Managment increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 41.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,181 shares of the information technology services provider’s stock after buying an additional 2,093 shares during the period. Groupama Asset Managment’s holdings in ServiceNow were worth $6,423,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NOW. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the third quarter worth about $30,000. Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the second quarter worth about $32,000. DT Investment Partners LLC increased its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. American Capital Advisory LLC purchased a new position in shares of ServiceNow in the second quarter worth about $39,000. Finally, Semmax Financial Advisors Inc. purchased a new position in shares of ServiceNow in the second quarter worth about $39,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.1 %

NOW stock opened at $1,124.34 on Monday. The company has a market capitalization of $231.61 billion, a PE ratio of 174.86, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,137.00. The company’s 50 day moving average price is $982.51 and its two-hundred day moving average price is $858.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for 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 business’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now directly owns 10,467 shares of the company’s stock, valued at $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. Truist Financial lifted their target price on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Robert W. Baird lifted their target price on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. Finally, Piper Sandler raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,011.26.

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.