Commerzbank Aktiengesellschaft FI Has $7.96 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• Commerzbank Aktiengesellschaft FI significantly increased its ServiceNow stake in the first quarter, boosting holdings by 229.4% to 76,089 shares worth about $7.96 million.
• Wall Street remains broadly positive on ServiceNow, with the consensus rating at Moderate Buy and an average price target of $139.12, even as several analysts recently trimmed or adjusted their targets.
• ServiceNow’s latest earnings were solid, as the company matched EPS estimates and beat revenue expectations, while revenue rose 22.1% year over year; however, insiders have been net sellers and the stock has been trading well below its 52-week high.

Commerzbank Aktiengesellschaft FI boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 229.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,089 shares of the information technology services provider's stock after purchasing an additional 52,989 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in ServiceNow were worth $7,955,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Florida Financial Advisors LLC grew its position in shares of ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock worth $280,000 after buying an additional 14 shares during the period. Clark Capital Management Group Inc. increased its stake in shares of ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock valued at $473,000 after acquiring an additional 18 shares in the last quarter. American Trust lifted its position in shares of ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider's stock valued at $947,000 after acquiring an additional 18 shares during the period. Morse Asset Management Inc boosted its stake in ServiceNow by 0.5% during the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock worth $3,586,000 after acquiring an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC boosted its stake in ServiceNow by 3.7% during the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock worth $522,000 after acquiring an additional 20 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOW shares. Raymond James Financial decreased their price target on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Evercore increased their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Royal Bank Of Canada restated an "outperform" rating and issued a $130.00 target price on shares of ServiceNow in a research note on Thursday. Mizuho decreased their target price on ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Finally, Piper Sandler dropped their price target on ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $139.12.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 from $122 and reiterated an overweight view, signaling confidence that the stock can recover from current levels. Benzinga report
• Positive Sentiment: Analysts and bullish articles argue ServiceNow’s AI strategy is more about execution than disruption, with the company’s workflow platform and recent integration updates with Ciroos and Esri seen as supportive of long-term demand. ServiceNow (NOW) Adds Ciroos And Esri To Bring AI And GIS Into Workflows
• Positive Sentiment: Multiple previews ahead of earnings highlight that ServiceNow’s own numbers have been contradicting the bearish AI narrative, which could help investor sentiment if results hold up. ServiceNow Is Down 51% as Wall Street Bets AI Will Gut Its Business. July 22 Will Show Who's Right.
• Positive Sentiment: Commentary from value investors says the stock’s decline may be creating a long-term buying opportunity if fundamentals remain solid, which can support dip-buying interest. Should You Buy ServiceNow (NOW) Before Earnings?
• Neutral Sentiment: Wall Street is focused on upcoming quarterly results and key operating metrics, making the next earnings report the main near-term catalyst for the stock. Unveiling ServiceNow (NOW) Q2 Outlook: Wall Street Estimates for Key Metrics
• Negative Sentiment: A critical ServiceNow code execution flaw is reportedly being exploited in attacks, which could raise security concerns and create a temporary headline overhang. Critical ServiceNow code execution flaw now exploited in attacks

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 in the last quarter. 0.34% of the stock is owned by insiders.

ServiceNow Stock Performance

NOW opened at $104.90 on Tuesday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20. The company has a market cap of $108.15 billion, a price-to-earnings ratio of 62.51, a PEG ratio of 1.73 and a beta of 0.96. The company's fifty day moving average price is $104.24 and its two-hundred day moving average price is $108.92. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business's revenue was up 22.1% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. On average, analysts expect that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

About ServiceNow

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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