Capital Group Private Client Services Inc. Lowers Holdings in ServiceNow, Inc. $NOW

Capital Group Private Client Services Inc. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 66.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,011 shares of the information technology services provider’s stock after selling 56,740 shares during the period. Capital Group Private Client Services Inc.’s holdings in ServiceNow were worth $26,698,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after buying an additional 34 shares in the last quarter. United Bank raised its stake in shares of ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after buying an additional 204 shares during the period. Modera Wealth Management LLC lifted its position in shares of ServiceNow by 6.5% during the 2nd quarter. Modera Wealth Management LLC now owns 293 shares of the information technology services provider’s stock valued at $301,000 after buying an additional 18 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of ServiceNow by 239.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,289 shares of the information technology services provider’s stock valued at $39,364,000 after buying an additional 27,001 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the sale, the insider owned 26,314 shares in the company, valued at $2,781,652.94. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the transaction, the insider directly owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. This represents a 31.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,237 shares of company stock worth $1,697,162 in the last ninety days. 0.34% of the stock is owned by corporate insiders.

ServiceNow Trading Down 1.9%

NOW opened at $122.04 on Tuesday. ServiceNow, Inc. has a 52 week low of $98.00 and a 52 week high of $211.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $122.24 and a 200-day simple moving average of $156.81. The firm has a market cap of $127.65 billion, a P/E ratio of 73.16, a P/E/G ratio of 2.10 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.ServiceNow’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Macquarie Infrastructure reduced their price objective on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. BNP Paribas Exane reduced their price target on ServiceNow from $186.00 to $120.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Needham & Company LLC reissued a “buy” rating and issued a $155.00 price objective on shares of ServiceNow in a report on Thursday, February 5th. Guggenheim raised shares of ServiceNow from a “sell” rating to a “neutral” rating in a research note on Tuesday, December 16th. Finally, Stifel Nicolaus set a $180.00 target price on shares of ServiceNow and gave the company a “buy” rating in a report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $192.06.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.