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

B. Metzler seel. Sohn & Co. AG reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also recently bought and sold shares of the stock. Atala Financial Inc purchased a new stake in shares of ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the 4th quarter worth about $32,000. FPC Investment Advisory Inc. raised its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Noble Wealth Management PBC acquired a new position in ServiceNow in the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in ServiceNow during the fourth quarter worth approximately $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $3,204,200.58. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last ninety days. Insiders own 0.25% of the company's stock.

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Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Jefferies Financial Group decreased their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Mizuho decreased 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 note on Tuesday, March 11th. Finally, TD Cowen increased their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,087.21.

ServiceNow Stock Up 1.6 %

NYSE NOW traded up $13.08 during trading hours on Wednesday, hitting $824.64. The company had a trading volume of 1,619,815 shares, compared to its average volume of 1,421,289. The firm's 50 day moving average is $939.07 and its 200 day moving average is $983.75. The company has a market capitalization of $169.88 billion, a price-to-earnings ratio of 120.74, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

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

ServiceNow announced that its board has initiated a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

ServiceNow Company 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.