BTG Pactual Asset Management US LLC Sells 2,767 Shares of ServiceNow, Inc. (NYSE:NOW)

BTG Pactual Asset Management US LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 60.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,825 shares of the information technology services provider's stock after selling 2,767 shares during the period. BTG Pactual Asset Management US LLC's holdings in ServiceNow were worth $1,939,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. FMR LLC increased its position in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Geode Capital Management LLC lifted its stake in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Norges Bank acquired a new stake in ServiceNow in the fourth quarter valued at approximately $2,603,360,000. Finally, Jennison Associates LLC grew its stake in shares of ServiceNow by 17.4% during the fourth quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider's stock worth $2,493,520,000 after buying an additional 348,187 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Down 3.1 %

Shares of ServiceNow stock traded down $24.48 on Friday, hitting $772.18. The company had a trading volume of 1,802,088 shares, compared to its average volume of 1,477,657. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average of $857.67 and a 200-day moving average of $970.18. The stock has a market capitalization of $159.84 billion, a price-to-earnings ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent research reports. Oppenheimer raised their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Redburn Atlantic started coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,048.00 price objective on shares of ServiceNow in a report on Wednesday. William Blair reissued an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Finally, UBS Group cut their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,057.17.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,250 shares of company stock valued at $19,853,273. Corporate insiders own 0.38% of the company's stock.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.