Deutsche Bank AG Buys 90,839 Shares of ServiceNow, Inc. (NYSE:NOW)

Deutsche Bank AG raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,227,061 shares of the information technology services provider's stock after purchasing an additional 90,839 shares during the quarter. Deutsche Bank AG owned approximately 0.60% of ServiceNow worth $1,300,832,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NOW. Quarry LP acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new position in ServiceNow during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the fourth quarter valued at $32,000. FPC Investment Advisory Inc. raised its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company's stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Russell S. Elmer sold 336 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,408,026.60. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,150 shares of company stock worth $16,550,424 in the last quarter. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. Mizuho lowered their target price on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Canaccord Genuity Group lowered their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an "outperform" rating in a research report on Wednesday. Stifel Nicolaus raised their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and increased their target price for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,048.55.

ServiceNow Trading Up 0.7 %

ServiceNow stock traded up $6.64 during trading hours on Friday, reaching $981.13. 919,297 shares of the company's stock were exchanged, compared to its average volume of 1,513,425. The firm has a market capitalization of $203.09 billion, a PE ratio of 143.65, a PEG ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm's 50 day simple moving average is $844.85 and its 200 day simple moving average is $970.05. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.41 earnings per share. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a stock buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

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.