Commerzbank Aktiengesellschaft FI Buys 426 Shares of ServiceNow, Inc. (NYSE:NOW)

Commerzbank Aktiengesellschaft FI raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 39.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,502 shares of the information technology services provider’s stock after acquiring an additional 426 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in ServiceNow were worth $1,604,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of ServiceNow by 2.6% during the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares during the period. FMR LLC raised its holdings in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after buying an additional 502,845 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after buying an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOW shares. Redburn Atlantic started coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. JPMorgan Chase & Co. lifted their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup cut their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Trading Down 0.5 %

NYSE:NOW opened at $906.15 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $186.67 billion, a PE ratio of 132.67, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. The business’s 50-day simple moving average is $1,030.51 and its 200-day simple moving average is $985.06.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.