Capital International Inc. CA Sells 18,046 Shares of ServiceNow, Inc. (NYSE:NOW)

Capital International Inc. CA trimmed its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 25.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 51,916 shares of the information technology services provider's stock after selling 18,046 shares during the period. Capital International Inc. CA's holdings in ServiceNow were worth $55,037,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Coastline Trust Co lifted its holdings in shares of ServiceNow by 286.7% during the fourth quarter. Coastline Trust Co now owns 58 shares of the information technology services provider's stock worth $61,000 after purchasing an additional 43 shares during the period. Curi RMB Capital LLC increased its stake in shares of ServiceNow by 19.1% during the fourth quarter. Curi RMB Capital LLC now owns 1,525 shares of the information technology services provider's stock worth $1,617,000 after acquiring an additional 245 shares during the period. Dimensional Fund Advisors LP raised its holdings in ServiceNow by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 287,180 shares of the information technology services provider's stock worth $304,454,000 after purchasing an additional 9,748 shares in the last quarter. Forum Financial Management LP lifted its position in ServiceNow by 52.7% in the fourth quarter. Forum Financial Management LP now owns 806 shares of the information technology services provider's stock valued at $855,000 after purchasing an additional 278 shares during the period. Finally, Capital International Ltd. CA increased its position in ServiceNow by 1.3% during the 4th quarter. Capital International Ltd. CA now owns 22,212 shares of the information technology services provider's stock worth $23,547,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Up 6.3 %

Shares of NYSE:NOW traded up $48.17 during trading on Wednesday, reaching $815.00. 1,635,089 shares of the company traded hands, compared to its average volume of 1,482,152. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $168.71 billion, a P/E ratio of 119.33, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The firm has a fifty day simple moving average of $843.99 and a 200 day simple moving average of $968.16.

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 net margin of 12.97% and a return on equity of 17.11%. Analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Barclays cut their target price on shares of ServiceNow from $1,200.00 to $967.00 and set an "overweight" rating for the company in a research report on Monday. Morgan Stanley lowered their target price on ServiceNow from $960.00 to $881.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Citigroup dropped their price objective on ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,021.43.

About ServiceNow

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.