ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,227,061 shares of the information technology services provider’s stock after buying an additional 90,839 shares during the quarter. Deutsche Bank AG owned about 0.60% of ServiceNow worth $1,300,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP purchased a new position in ServiceNow during the fourth quarter valued at approximately $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the 4th quarter valued at $32,000. Noble Wealth Management PBC purchased a new stake in ServiceNow during the fourth quarter worth $34,000. Finally, FPC Investment Advisory Inc. grew its position in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Up 1.8 %

Shares of ServiceNow stock opened at $982.98 on Thursday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a 50 day moving average of $842.03 and a 200 day moving average of $969.22. 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 company has a market capitalization of $203.48 billion, a P/E ratio of 143.92, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for 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 business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.41 EPS. As a group, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at ServiceNow

In related news, Director Deborah Black sold 598 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the sale, the director now directly owns 428 shares of the company’s stock, valued at $402,418.44. This represents a 58.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,692 shares of company stock valued at $18,173,444 over the last ninety days. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOW. JPMorgan Chase & Co. lowered their price target on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Guggenheim lifted their target price on shares of ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a research report on Thursday, April 24th. Mizuho reduced their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Barclays set a $1,085.00 price objective on ServiceNow in a report on Wednesday. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,048.55.

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.