Capital International Investors Sells 341,397 Shares of ServiceNow, Inc. $NOW

Capital International Investors lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 14.0% in the third quarter, Holdings Channel reports. The firm owned 2,095,555 shares of the information technology services provider’s stock after selling 341,397 shares during the period. Capital International Investors’ holdings in ServiceNow were worth $1,929,110,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ServiceNow by 1.6% during the third quarter. Vanguard Group Inc. now owns 20,210,924 shares of the information technology services provider’s stock worth $18,599,709,000 after purchasing an additional 315,861 shares in the last quarter. State Street Corp raised its stake in ServiceNow by 1.7% during the 2nd quarter. State Street Corp now owns 9,323,619 shares of the information technology services provider’s stock worth $9,585,426,000 after buying an additional 154,307 shares during the period. Geode Capital Management LLC lifted its holdings in ServiceNow by 2.0% during the second quarter. Geode Capital Management LLC now owns 4,574,563 shares of the information technology services provider’s stock worth $4,684,445,000 after acquiring an additional 88,057 shares in the last quarter. Norges Bank bought a new position in ServiceNow during the second quarter worth about $2,589,235,000. Finally, Alliancebernstein L.P. grew its stake in ServiceNow by 10.2% in the second quarter. Alliancebernstein L.P. now owns 1,910,078 shares of the information technology services provider’s stock valued at $1,963,713,000 after acquiring an additional 177,392 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. DA Davidson reaffirmed a “buy” rating and set a $220.00 price target on shares of ServiceNow in a research report on Thursday, January 29th. Jefferies Financial Group dropped their price target on ServiceNow from $230.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of ServiceNow in a research report on Thursday, January 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a report on Thursday, January 22nd. Finally, Argus raised ServiceNow to a “strong-buy” rating in a research report on Wednesday, February 4th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $192.06.

ServiceNow Trading Down 1.9%

Shares of NYSE:NOW opened at $122.04 on Tuesday. The company’s 50-day moving average price is $122.24 and its two-hundred day moving average price is $156.81. ServiceNow, Inc. has a one year low of $98.00 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $127.65 billion, a PE ratio of 73.16, a price-to-earnings-growth ratio of 2.10 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.ServiceNow’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the transaction, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Fipps sold 9,641 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total value of $1,021,271.13. Following the transaction, the insider directly owned 11,757 shares in the company, valued at $1,245,419.01. This trade represents a 45.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,237 shares of company stock valued at $1,697,162. Insiders own 0.34% of the company’s stock.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.