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

Capital International Sarl grew its holdings in shares of ServiceNow Inc (NYSE:NOW) by 162.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,970 shares of the information technology services provider’s stock after purchasing an additional 8,650 shares during the period. Capital International Sarl’s holdings in ServiceNow were worth $3,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its stake in shares of ServiceNow by 3.6% in the 4th quarter. Quadrant Capital Group LLC now owns 982 shares of the information technology services provider’s stock valued at $260,000 after purchasing an additional 34 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in ServiceNow by 3.1% in the third quarter. Sunbelt Securities Inc. now owns 1,582 shares of the information technology services provider’s stock valued at $401,000 after buying an additional 47 shares during the period. Paradigm Asset Management Co. LLC lifted its holdings in ServiceNow by 14.3% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 400 shares of the information technology services provider’s stock valued at $113,000 after buying an additional 50 shares during the period. Lindbrook Capital LLC lifted its holdings in ServiceNow by 18.1% in the fourth quarter. Lindbrook Capital LLC now owns 340 shares of the information technology services provider’s stock valued at $96,000 after buying an additional 52 shares during the period. Finally, IFP Advisors Inc increased its stake in ServiceNow by 28.1% in the fourth quarter. IFP Advisors Inc now owns 287 shares of the information technology services provider’s stock valued at $83,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 97.20% of the company’s stock.

NOW has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $360.00 target price on shares of ServiceNow in a research note on Thursday, February 27th. Piper Sandler upped their target price on shares of ServiceNow from to in a research note on Thursday, January 30th. SunTrust Banks upped their target price on shares of ServiceNow from $321.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. TheStreet raised shares of ServiceNow from a “c” rating to a “b” rating in a research note on Wednesday, January 29th. Finally, JMP Securities upped their target price on shares of ServiceNow from $325.00 to $340.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $353.81.

ServiceNow stock traded up $22.14 during mid-day trading on Thursday, reaching $286.82. The company’s stock had a trading volume of 2,005,242 shares, compared to its average volume of 3,089,767. The company has a market capitalization of $51.71 billion, a price-to-earnings ratio of 90.48, a price-to-earnings-growth ratio of 9.72 and a beta of 1.32. ServiceNow Inc has a 12 month low of $213.99 and a 12 month high of $362.95. The business’s 50 day simple moving average is $319.95 and its 200 day simple moving average is $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 released its earnings results on Wednesday, January 29th. The information technology services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $951.77 million during the quarter, compared to the consensus estimate of $940.14 million. ServiceNow had a net margin of 18.11% and a return on equity of 7.60%. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. As a group, sell-side analysts expect that ServiceNow Inc will post 0.96 EPS for the current year.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 2,836 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $356.00, for a total value of $1,009,616.00. Following the completion of the sale, the insider now owns 42,079 shares in the company, valued at $14,980,124. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David Schneider sold 2,372 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $339.50, for a total transaction of $805,294.00. Following the completion of the sale, the insider now owns 38,984 shares of the company’s stock, valued at approximately $13,235,068. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,104 shares of company stock valued at $37,908,647. 1.00% of the stock is owned by insiders.

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.

See Also: Understanding Stock Ratings

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow Inc (NYSE:NOW).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.