Candriam S.C.A. Decreases Position in ServiceNow, Inc. (NYSE:NOW)

Candriam S.C.A. lowered its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 135,736 shares of the information technology services provider's stock after selling 34,390 shares during the period. ServiceNow makes up 0.8% of Candriam S.C.A.'s holdings, making the stock its 23rd biggest holding. Candriam S.C.A. owned 0.07% of ServiceNow worth $143,896,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in ServiceNow by 2.6% during the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider's stock worth $8,118,867,000 after acquiring an additional 226,023 shares in the last quarter. FMR LLC increased its holdings in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC lifted its position in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Geode Capital Management LLC grew its stake in ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider's stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP boosted its stake in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock worth $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Jefferies Financial Group cut their target price on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Robert W. Baird reduced their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. Raymond James assumed coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an "outperform" rating and a $1,200.00 price objective on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,129.72.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 in the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Trading Down 8.1 %

Shares of ServiceNow stock traded down $69.03 during trading on Monday, reaching $781.60. The company's stock had a trading volume of 3,894,217 shares, compared to its average volume of 1,754,585. 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 52-week low of $637.99 and a 52-week high of $1,198.09. The firm's 50-day moving average is $1,017.44 and its two-hundred day moving average is $985.92. The company has a market cap of $161.01 billion, a price-to-earnings ratio of 114.44, a PEG ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results 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%. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.