Commerzbank Aktiengesellschaft FI Purchases 329 Shares of ServiceNow, Inc. (NYSE:NOW)

Commerzbank Aktiengesellschaft FI increased its position in ServiceNow, Inc. (NYSE:NOW) by 44.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,076 shares of the information technology services provider’s stock after buying 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 (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Swedbank AB acquired a new position in ServiceNow during the first quarter worth $897,908,000. Vanguard Group Inc. raised its stake in ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in ServiceNow during the second quarter worth $218,786,000. Acadian Asset Management LLC raised its stake in ServiceNow by 233.4% during the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after acquiring an additional 271,073 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in ServiceNow by 59.4% during the second quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock worth $500,258,000 after acquiring an additional 237,086 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,467 shares of company stock worth $4,450,447 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent analyst reports. TD Cowen increased their price objective on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial raised their target price on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday. Oppenheimer raised their target price on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JMP Securities raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $927.62.

ServiceNow Trading Down 1.1 %

NYSE:NOW opened at $907.68 on Thursday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $186.07 billion, a PE ratio of 97.08, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The business’s 50-day simple moving average is $880.60 and its 200-day simple moving average is $795.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business posted $0.77 EPS. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal 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.