B. Metzler seel. Sohn & Co. AG Grows Stake in ServiceNow, Inc. $NOW

Key Points

• B. Metzler seel. Sohn & Co. AG increased its holdings in ServiceNow, Inc. by 2% during Q1, bringing its total to 38,250 shares worth approximately $30.45 million.
• ServiceNow reported earnings of $4.09 per share for the latest quarter, exceeding estimates and marking a 22.4% revenue increase year-over-year to $3.22 billion.
• Institutional investors own 87.18% of ServiceNow's stock, with significant purchases made by firms like Goldman Sachs, which raised its stake by 131.4% in the first quarter.

B. Metzler seel. Sohn & Co. AG raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,250 shares of the information technology services provider's stock after buying an additional 750 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in ServiceNow were worth $30,452,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Delta Investment Management LLC raised its stake in ServiceNow by 7.4% during the first quarter. Delta Investment Management LLC now owns 1,128 shares of the information technology services provider's stock valued at $898,000 after buying an additional 78 shares during the last quarter. Guggenheim Capital LLC boosted its stake in ServiceNow by 4.1% during the 1st quarter. Guggenheim Capital LLC now owns 48,443 shares of the information technology services provider's stock valued at $38,567,000 after purchasing an additional 1,895 shares during the last quarter. RB Capital Management LLC boosted its stake in ServiceNow by 2.1% during the 1st quarter. RB Capital Management LLC now owns 1,255 shares of the information technology services provider's stock valued at $999,000 after purchasing an additional 26 shares during the last quarter. Ieq Capital LLC boosted its stake in ServiceNow by 37.6% during the 1st quarter. Ieq Capital LLC now owns 31,844 shares of the information technology services provider's stock valued at $25,352,000 after purchasing an additional 8,702 shares during the last quarter. Finally, Nicolet Bankshares Inc. boosted its stake in ServiceNow by 11.2% during the 1st quarter. Nicolet Bankshares Inc. now owns 725 shares of the information technology services provider's stock valued at $577,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares of the company's stock, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 1,585 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $900.00, for a total value of $1,426,500.00. Following the sale, the chief executive officer directly owned 12,439 shares in the company, valued at approximately $11,195,100. This represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,302 shares of company stock valued at $10,956,796. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

ServiceNow stock traded down $10.12 during trading on Friday, reaching $918.49. The company had a trading volume of 1,881,767 shares, compared to its average volume of 1,914,586. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm's 50-day simple moving average is $945.88 and its 200 day simple moving average is $925.54. The firm has a market capitalization of $191.04 billion, a price-to-earnings ratio of 115.68, a price-to-earnings-growth ratio of 4.19 and a beta of 0.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business's quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm earned $3.13 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup increased their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Oppenheimer reiterated an "outperform" rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Piper Sandler increased their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Raymond James Financial increased their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,115.20.

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.