Capital Research Global Investors Sells 2,660,847 Shares of ServiceNow Inc (NYSE:NOW)

Capital Research Global Investors lessened its holdings in shares of ServiceNow Inc (NYSE:NOW) by 41.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,823,003 shares of the information technology services provider’s stock after selling 2,660,847 shares during the period. Capital Research Global Investors’ holdings in ServiceNow were worth $1,079,310,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Laurel Wealth Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at $28,000. Virtus ETF Advisers LLC bought a new position in ServiceNow during the fourth quarter worth $29,000. Sun Life Financial INC bought a new position in ServiceNow during the fourth quarter worth $31,000. Tarbox Family Office Inc. raised its stake in ServiceNow by 668.8% during the fourth quarter. Tarbox Family Office Inc. now owns 123 shares of the information technology services provider’s stock worth $35,000 after buying an additional 107 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new position in ServiceNow in the fourth quarter valued at $37,000. Institutional investors own 97.20% of the company’s stock.

ServiceNow stock traded up $27.46 during mid-day trading on Thursday, reaching $292.13. The stock had a trading volume of 119,854 shares, compared to its average volume of 3,089,767. 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 Inc has a fifty-two week low of $213.99 and a fifty-two week high of $362.95. The stock’s 50-day simple moving average is $319.95 and its 200-day simple moving average is $285.28. The firm has a market capitalization of $51.71 billion, a PE ratio of 90.51, a price-to-earnings-growth ratio of 9.72 and a beta of 1.32.

ServiceNow (NYSE:NOW) last issued its 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. ServiceNow had a return on equity of 7.60% and a net margin of 18.11%. The company had revenue of $951.77 million for the quarter, compared to analyst estimates of $940.14 million. During the same period in the prior year, the firm earned $0.77 earnings per share. ServiceNow’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, research analysts forecast that ServiceNow Inc will post 0.96 earnings per share for the current fiscal year.

In related news, Director Frederic B. Luddy sold 22,000 shares of ServiceNow stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $303.56, for a total transaction of $6,678,320.00. Following the transaction, the director now owns 1,213 shares of the company’s stock, valued at $368,218.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Miller sold 7,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $333.98, for a total value of $2,337,860.00. Following the sale, the director now owns 2,983 shares of the company’s stock, valued at approximately $996,262.34. The disclosure for this sale can be found here. In the last three months, insiders sold 118,104 shares of company stock valued at $37,908,647. 1.00% of the stock is currently owned by insiders.

A number of analysts have commented on the stock. SunTrust Banks upped their price target on shares of ServiceNow from $321.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Barclays reissued a “buy” rating and issued a $345.00 price objective on shares of ServiceNow in a research report on Friday, January 31st. Mizuho raised ServiceNow from a “neutral” rating to a “buy” rating and set a $325.00 price objective for the company in a research report on Thursday. Raymond James boosted their price objective on ServiceNow from $360.00 to $383.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 30th. Finally, Cowen upped their target price on ServiceNow from to and gave the company a “buy” rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $353.81.

About ServiceNow

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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