ServiceNow, Inc. (NYSE:NOW) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 44.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,076 shares of the information technology services provider’s stock after acquiring an additional 329 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in ServiceNow were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. First Affirmative Financial Network lifted its holdings in ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC lifted its holdings in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the last quarter. CX Institutional lifted its stake in ServiceNow by 1.2% during the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after buying an additional 13 shares in the last quarter. Optas LLC lifted its stake in ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after buying an additional 14 shares in the last quarter. Finally, Cedar Wealth Management LLC lifted its stake in ServiceNow by 5.5% during the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after buying an additional 14 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday. Barclays upped their price objective on shares of ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $927.62.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Down 1.1 %

Shares of ServiceNow stock opened at $907.68 on Thursday. The stock has a market capitalization of $186.07 billion, a P/E ratio of 97.08, a PEG ratio of 5.63 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $880.60 and a two-hundred day moving average price of $795.09. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.59.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. Equities analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

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.