Commerce Bank Has $87.83 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Commerce Bank increased its stake in ServiceNow, Inc. by 0.9% to 110,323 shares, valued at approximately $87.8 million, during the first quarter.
• Notable institutional investors, including GAMMA Investing LLC and OVSEA CHINESE BANKING Corp Ltd, have made significant increases in their holdings, highlighting a strong interest in ServiceNow.
• ServiceNow's latest earnings report showed an EPS of $4.09, surpassing estimates of $3.57, and revenue growth of 22.4% year-over-year.

Commerce Bank raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,323 shares of the information technology services provider's stock after buying an additional 951 shares during the period. Commerce Bank owned 0.05% of ServiceNow worth $87,833,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Edgemoor Investment Advisors Inc. raised its holdings in ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after buying an additional 11 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after buying an additional 11 shares in the last quarter. one8zero8 LLC raised its holdings in ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after buying an additional 11 shares in the last quarter. Capital Investment Advisory Services LLC raised its holdings in ServiceNow by 2.1% during the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after buying an additional 12 shares in the last quarter. Finally, Sepio Capital LP raised its holdings in ServiceNow by 3.8% during the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after buying an additional 13 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other ServiceNow news, Director Lawrence Jackson sold 757 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total transaction of $749,808.50. Following the transaction, the director owned 588 shares of the company's stock, valued at approximately $582,414. This represents a 56.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 428 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director directly owned 10,891 shares in the company, valued at approximately $11,039,226.51. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,990 shares of company stock worth $6,047,567. 0.38% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NOW traded down $29.09 on Friday, hitting $914.03. The company's stock had a trading volume of 1,810,388 shares, compared to its average volume of 1,532,572. The company has a market capitalization of $190.12 billion, a PE ratio of 115.12, a PEG ratio of 4.12 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a 50 day moving average price of $994.89 and a 200 day moving average price of $950.03.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. ServiceNow's revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 EPS. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Stifel Nicolaus lifted their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Raymond James Financial lifted their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Scotiabank set a $1,100.00 price objective on ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.