Dnca Finance Reduces Stake in ServiceNow, Inc. (NYSE:NOW)

Dnca Finance decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,800 shares of the information technology services provider's stock after selling 800 shares during the quarter. Dnca Finance's holdings in ServiceNow were worth $10,389,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Forum Financial Management LP lifted its stake in ServiceNow by 52.7% in the 4th quarter. Forum Financial Management LP now owns 806 shares of the information technology services provider's stock valued at $855,000 after buying an additional 278 shares in the last quarter. Capital International Ltd. CA boosted its stake in shares of ServiceNow by 1.3% in the fourth quarter. Capital International Ltd. CA now owns 22,212 shares of the information technology services provider's stock worth $23,547,000 after acquiring an additional 286 shares during the last quarter. Capital Group Investment Management PTE. LTD. raised its stake in ServiceNow by 1.7% in the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 4,827 shares of the information technology services provider's stock valued at $5,117,000 after purchasing an additional 83 shares during the last quarter. Capital International Sarl boosted its stake in ServiceNow by 5.6% during the 4th quarter. Capital International Sarl now owns 34,602 shares of the information technology services provider's stock worth $36,682,000 after purchasing an additional 1,833 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of ServiceNow by 3.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 194,403 shares of the information technology services provider's stock worth $205,889,000 after buying an additional 6,372 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 6.6 %

NOW traded up $50.80 on Wednesday, reaching $817.63. The company's stock had a trading volume of 1,546,472 shares, compared to its average volume of 1,481,884. The company has a market capitalization of $169.25 billion, a price-to-earnings ratio of 119.71, a P/E/G ratio of 4.51 and a beta of 1.08. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock has a 50 day moving average of $843.99 and a two-hundred day moving average of $968.16.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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%. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,250 shares of company stock worth $19,853,273 in the last quarter. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of ServiceNow from $1,250.00 to $1,100.00 and set an "overweight" rating for the company in a report on Monday, April 14th. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. Guggenheim reissued a "sell" rating and set a $716.00 price target on shares of ServiceNow in a research report on Wednesday, April 16th. Finally, BMO Capital Markets reduced their target price on shares of ServiceNow from $990.00 to $950.00 and set an "outperform" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the company's stock. According to MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $1,021.43.

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.