Capital International Sarl Grows Stock Position in ServiceNow Inc (NYSE:NOW)

Capital International Sarl raised its holdings in ServiceNow Inc (NYSE:NOW) by 162.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,970 shares of the information technology services provider’s stock after buying an additional 8,650 shares during the quarter. Capital International Sarl’s holdings in ServiceNow were worth $3,944,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new stake in ServiceNow in the fourth quarter valued at about $28,000. Virtus ETF Advisers LLC purchased a new stake in ServiceNow in the fourth quarter valued at about $29,000. Sun Life Financial INC purchased a new stake in ServiceNow in the fourth quarter valued at about $31,000. Tarbox Family Office Inc. raised its stake in 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 during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in ServiceNow in the fourth quarter valued at about $37,000. Institutional investors own 97.20% of the company’s stock.

A number of equities research analysts have commented on NOW shares. Citigroup increased their price target on ServiceNow from $345.00 to $384.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley cut their price objective on ServiceNow from $336.00 to $307.00 and set an “equal weight” rating on the stock in a report on Wednesday. Robert W. Baird increased their price objective on ServiceNow from $310.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets increased their price objective on ServiceNow from $300.00 to $385.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, SunTrust Banks increased their price objective on ServiceNow from $321.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $353.81.

In other ServiceNow news, Director Frederic B. Luddy sold 26,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $273.56, for a total value of $7,112,560.00. Following the sale, the director now directly owns 1,213 shares of the company’s stock, valued at $331,828.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chirantan Jitendra Desai sold 1,563 shares of the firm’s 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 completion of the sale, the insider now directly owns 38,697 shares in the company, valued at $11,700,037.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,104 shares of company stock worth $37,908,647. 1.00% of the stock is owned by corporate insiders.

ServiceNow stock traded up $22.14 during midday trading on Thursday, hitting $286.82. 2,005,242 shares of the company were exchanged, compared to its average volume of 3,089,767. The firm has a market capitalization of $51.71 billion, a PE ratio of 90.48, a price-to-earnings-growth ratio of 9.72 and a beta of 1.32. ServiceNow Inc has a fifty-two week low of $213.99 and a fifty-two week high of $362.95. The business has a fifty day simple moving average of $319.95 and a two-hundred day simple moving average of $285.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. ServiceNow had a return on equity of 7.60% and a net margin of 18.11%. The firm had revenue of $951.77 million for the quarter, compared to analyst estimates of $940.14 million. During the same period last year, the company earned $0.77 earnings per share. ServiceNow’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, equities analysts expect 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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