Richelieu Gestion SA Raises Position in ServiceNow, Inc. (NYSE:NOW)

Richelieu Gestion SA boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 2,500.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 260 shares of the information technology services provider’s stock after acquiring an additional 250 shares during the quarter. Richelieu Gestion SA’s holdings in ServiceNow were worth $198,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after purchasing an additional 122,577 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares during the last quarter. Norges Bank purchased a new position in ServiceNow in the 4th quarter worth $1,648,259,000. Massachusetts Financial Services Co. MA lifted its stake in ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE NOW traded down $1.83 during trading on Wednesday, hitting $752.98. 521,435 shares of the stock traded hands, compared to its average volume of 1,278,535. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $815.32. The firm has a 50-day simple moving average of $723.87 and a 200-day simple moving average of $739.98. The company has a market capitalization of $154.36 billion, a P/E ratio of 81.06, a price-to-earnings-growth ratio of 4.73 and a beta of 0.96.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. As a group, analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current year.

Analyst Ratings Changes

NOW has been the topic of several recent research reports. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. BMO Capital Markets decreased their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Morgan Stanley increased their price objective on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Citigroup boosted their target price on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $814.48.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 125 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 598 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $741.92, for a total value of $443,668.16. Following the completion of the sale, the director now owns 428 shares of the company’s stock, valued at approximately $317,541.76. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock valued at $3,997,012 over the last 90 days. Insiders own 0.25% of the company’s stock.

About ServiceNow

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.