Capital International Investors Raises Stock Holdings in ServiceNow Inc (NYSE:NOW)

Capital International Investors increased its stake in shares of ServiceNow Inc (NYSE:NOW) by 49.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,806,420 shares of the information technology services provider’s stock after purchasing an additional 1,598,859 shares during the quarter. Capital International Investors owned approximately 2.56% of ServiceNow worth $1,356,949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new position in ServiceNow during the fourth quarter worth approximately $28,000. Virtus ETF Advisers LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at $29,000. Sun Life Financial INC acquired a new stake in shares of ServiceNow in the fourth quarter valued at $31,000. Tarbox Family Office Inc. grew its stake in shares of ServiceNow by 668.8% in the fourth quarter. Tarbox Family Office Inc. now owns 123 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 107 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new stake in shares of ServiceNow in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 97.20% of the company’s stock.

A number of research analysts recently issued reports on the company. Credit Suisse Group lifted their target price on ServiceNow from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Co upgraded ServiceNow from an “equal weight” rating to an “overweight” rating and set a $330.00 price target on the stock in a research report on Tuesday. Canaccord Genuity boosted their target price on ServiceNow from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $332.00 target price on the stock in a research report on Thursday, January 23rd. Finally, UBS Group boosted their target price on ServiceNow from $310.00 to $396.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $353.81.

In related news, insider David Schneider sold 1,824 shares of ServiceNow stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $345.02, for a total transaction of $629,316.48. Following the sale, the insider now owns 37,220 shares of the company’s stock, valued at approximately $12,841,644.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chirantan Jitendra Desai sold 1,563 shares of ServiceNow stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $302.35, for a total value of $472,573.05. Following the sale, the insider now directly owns 38,697 shares in the company, valued at approximately $11,700,037.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,104 shares of company stock worth $37,908,647. 1.00% of the stock is owned by company insiders.

NOW stock traded up $25.33 on Thursday, reaching $290.00. The company had a trading volume of 1,986,153 shares, compared to its average volume of 3,089,767. ServiceNow Inc has a 1 year low of $213.99 and a 1 year high of $362.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The company’s fifty day moving average is $319.95 and its 200 day moving average is $285.28. The company has a market cap of $51.71 billion, a P/E ratio of 91.48, a PEG ratio of 9.72 and a beta of 1.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The company had revenue of $951.77 million for the quarter, compared to analyst estimates of $940.14 million. ServiceNow had a return on equity of 7.60% and a net margin of 18.11%. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. On average, sell-side analysts predict that ServiceNow Inc will post 0.96 earnings per share for the current year.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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