B. Metzler seel. Sohn & Co. AG Decreases Stock Position in ServiceNow, Inc. (NYSE:NOW)

B. Metzler seel. Sohn & Co. AG decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,500 shares of the information technology services provider’s stock after selling 8,547 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in ServiceNow were worth $39,834,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Summit Financial LLC increased its position in shares of ServiceNow by 12.4% during the fourth quarter. Summit Financial LLC now owns 2,023 shares of the information technology services provider’s stock worth $2,145,000 after acquiring an additional 223 shares during the last quarter. Hoey Investments Inc. increased its holdings in ServiceNow by 52.7% during the 4th quarter. Hoey Investments Inc. now owns 4,187 shares of the information technology services provider’s stock worth $4,439,000 after purchasing an additional 1,445 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of ServiceNow by 12.7% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 850 shares of the information technology services provider’s stock valued at $901,000 after purchasing an additional 96 shares in the last quarter. Pier 88 Investment Partners LLC purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $2,014,000. Finally, Axiom Investors LLC DE increased its stake in shares of ServiceNow by 67.3% in the fourth quarter. Axiom Investors LLC DE now owns 398,594 shares of the information technology services provider’s stock worth $422,557,000 after buying an additional 160,378 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 3.8 %

Shares of NYSE:NOW opened at $796.61 on Monday. The company has a 50 day moving average of $950.30 and a 200-day moving average of $984.86. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $164.10 billion, a P/E ratio of 116.63, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has authorized a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on NOW. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Guggenheim restated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Piper Sandler lifted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Redburn Atlantic began coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,093.76.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 336 shares of the business’s stock in a transaction that occurred on 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 sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,408,026.60. The trade was a 7.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 292 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

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.