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

Commerzbank Aktiengesellschaft FI lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 39.6% during the fourth quarter, HoldingsChannel reports. 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 SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $30,000. FPC Investment Advisory Inc. increased its holdings in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $37,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $37,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $906.15 on Wednesday. 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. The company has a market cap of $186.67 billion, a P/E ratio of 132.67, a P/E/G ratio of 4.51 and a beta of 0.99. The business has a fifty day simple moving average of $1,030.51 and a 200 day simple moving average of $985.06.

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

ServiceNow declared that its board has approved a stock repurchase plan 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

NOW has been the topic of a number of recent analyst reports. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Needham & Company LLC boosted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group decreased their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Raymond James assumed coverage on ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 336 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,408,026.60. This trade represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 in the last ninety days. 0.25% of the stock is owned by insiders.

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.