Commerzbank Aktiengesellschaft FI Buys 2,555 Shares of ServiceNow, Inc. $NOW

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in ServiceNow by 145.1%, acquiring an additional 2,555 shares, bringing its total holdings to 4,316 shares valued at approximately $4.43 million.
• ServiceNow's stock price has recently seen a slight increase of 0.3%, sitting at around $917.21, while its market capitalization is approximately $190.78 billion.
• After reporting strong quarterly earnings of $4.09 EPS and a revenue of $3.22 billion, ServiceNow surpassed analyst estimates, showcasing a year-over-year revenue growth of 22.4%.

Commerzbank Aktiengesellschaft FI grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 145.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,316 shares of the information technology services provider's stock after acquiring an additional 2,555 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in ServiceNow were worth $4,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. Nuveen LLC purchased a new stake in ServiceNow in the first quarter worth about $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in ServiceNow by 1,586.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock valued at $742,965,000 after buying an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the last quarter. Parnassus Investments LLC bought a new stake in shares of ServiceNow in the 1st quarter valued at approximately $519,806,000. Finally, Amundi raised its holdings in shares of ServiceNow by 61.9% in the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider's stock worth $1,269,777,000 after buying an additional 626,623 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares in the company, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,737 shares of company stock worth $16,798,825. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Up 0.3%

NOW stock opened at $917.21 on Friday. The stock has a market capitalization of $190.78 billion, a P/E ratio of 115.52, a PEG ratio of 4.12 and a beta of 0.92. The company has a 50 day moving average price of $909.72 and a two-hundred day moving average price of $931.43. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America increased their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. BMO Capital Markets lifted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. UBS Group reduced their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Guggenheim reiterated a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,122.20.

ServiceNow 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.

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