ServiceNow, Inc. (NYSE:NOW) Stock Position Lowered by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 18.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,500 shares of the information technology services provider’s stock after selling 8,547 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in ServiceNow were worth $39,834,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Summit Financial LLC grew its holdings in shares of ServiceNow by 12.4% during the fourth quarter. Summit Financial LLC now owns 2,023 shares of the information technology services provider’s stock valued at $2,145,000 after buying an additional 223 shares in the last quarter. Hoey Investments Inc. boosted its position in ServiceNow by 52.7% during the 4th quarter. Hoey Investments Inc. now owns 4,187 shares of the information technology services provider’s stock worth $4,439,000 after acquiring an additional 1,445 shares during the period. Edmond DE Rothschild Holding S.A. grew its stake in ServiceNow by 12.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 850 shares of the information technology services provider’s stock valued at $901,000 after acquiring an additional 96 shares in the last quarter. Pier 88 Investment Partners LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at about $2,014,000. Finally, Axiom Investors LLC DE lifted its position in shares of ServiceNow by 67.3% in the fourth quarter. Axiom Investors LLC DE now owns 398,594 shares of the information technology services provider’s stock worth $422,557,000 after purchasing an additional 160,378 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last ninety days. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $796.61 on Monday. The company has a market cap of $164.10 billion, a price-to-earnings ratio of 116.63, a PEG ratio of 4.51 and a beta of 1.03. The business has a 50 day moving average price of $950.30 and a 200 day moving average price of $984.86. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted 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%. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Jefferies Financial Group lowered their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Redburn Atlantic started coverage on ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating for the company. Mizuho reduced their price objective on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank dropped their target price on ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,093.76.

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.