Commerzbank Aktiengesellschaft FI Sells 155 Shares of ServiceNow, Inc. (NYSE:NOW)

Commerzbank Aktiengesellschaft FI cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 747 shares of the information technology services provider’s stock after selling 155 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in ServiceNow were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Western Wealth Management LLC raised its stake in shares of ServiceNow by 39.3% during the fourth quarter. Western Wealth Management LLC now owns 1,262 shares of the information technology services provider’s stock valued at $892,000 after acquiring an additional 356 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in ServiceNow by 7.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 962 shares of the information technology services provider’s stock worth $679,000 after buying an additional 63 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in ServiceNow by 10.9% during the fourth quarter. Lindbrook Capital LLC now owns 1,273 shares of the information technology services provider’s stock worth $899,000 after buying an additional 125 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of ServiceNow by 4.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 2,057 shares of the information technology services provider’s stock valued at $1,453,000 after acquiring an additional 91 shares during the period. Finally, Signaturefd LLC raised its holdings in ServiceNow by 8.1% in the fourth quarter. Signaturefd LLC now owns 3,377 shares of the information technology services provider’s stock worth $2,386,000 after purchasing an additional 253 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.1 %

Shares of ServiceNow stock traded up $1.05 during trading hours on Wednesday, hitting $839.27. The company’s stock had a trading volume of 409,219 shares, compared to its average volume of 1,309,223. The firm has a fifty day moving average of $775.44 and a 200-day moving average of $757.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $172.05 billion, a price-to-earnings ratio of 89.50, a P/E/G ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $850.33.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 6.84 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders have sold 9,670 shares of company stock worth $7,374,352 over the last three months. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group decreased their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Truist Financial increased their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wolfe Research reiterated an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. Finally, Stifel Nicolaus upped their target price on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

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.