Capital Group Private Client Services Inc. Sells 3,659 Shares of ServiceNow, Inc. (NYSE:NOW)

Capital Group Private Client Services Inc. reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,318 shares of the information technology services provider's stock after selling 3,659 shares during the period. ServiceNow makes up 1.0% of Capital Group Private Client Services Inc.'s holdings, making the stock its 24th largest position. Capital Group Private Client Services Inc.'s holdings in ServiceNow were worth $108,469,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Union Bancaire Privee UBP SA purchased a new stake in shares of ServiceNow in the 4th quarter valued at $48,802,000. Dock Street Asset Management Inc. grew its stake in ServiceNow by 3.4% in the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after acquiring an additional 1,105 shares during the period. Cardano Risk Management B.V. purchased a new position in ServiceNow during the fourth quarter valued at $105,090,000. Rheos Capital Works Inc. acquired a new position in shares of ServiceNow during the 4th quarter worth about $10,071,000. Finally, Czech National Bank lifted its stake in ServiceNow by 6.7% during the fourth quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock worth $47,486,000 after purchasing an additional 2,829 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In related news, Director Jeffrey A. Miller sold 2,282 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the transaction, the director now directly owns 40,638 shares in the company, valued at $41,883,148.32. This represents a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock worth $19,853,273 over the last ninety days. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Up 2.4 %

NOW stock traded up $17.85 during mid-day trading on Tuesday, hitting $773.84. The stock had a trading volume of 582,324 shares, compared to its average volume of 1,860,520. The company has a fifty day moving average of $848.45 and a 200 day moving average of $969.57. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a market capitalization of $160.19 billion, a price-to-earnings ratio of 113.30, a PEG ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a share repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Mizuho decreased their price objective on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. Citigroup decreased their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday. One investment 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,032.90.

ServiceNow 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.