Gilder Gagnon Howe & Co. LLC Sells 3,302 Shares of ServiceNow, Inc. (NYSE:NOW)

Gilder Gagnon Howe & Co. LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,841 shares of the information technology services provider’s stock after selling 3,302 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in ServiceNow were worth $32,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of NOW. Virtu Financial LLC bought a new stake in ServiceNow during the 3rd quarter valued at $9,833,000. Anchor Investment Management LLC grew its holdings in shares of ServiceNow by 6.1% during the third quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider’s stock valued at $1,220,000 after buying an additional 78 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in shares of ServiceNow in the 3rd quarter worth about $202,000. World Investment Advisors LLC lifted its position in ServiceNow by 585.8% in the 3rd quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider’s stock valued at $5,857,000 after acquiring an additional 5,594 shares in the last quarter. Finally, Sfmg LLC bought a new stake in ServiceNow during the 3rd quarter worth approximately $226,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NOW shares. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Oppenheimer increased their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Scotiabank boosted their price target on shares of ServiceNow from $1,050.00 to $1,075.00 and gave the stock a “sector outperform” rating in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday. Finally, Needham & Company LLC cut their target price on ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,032.94.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. 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 ninety days. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Up 0.8 %

Shares of ServiceNow stock opened at $946.08 on Friday. The company’s 50-day moving average price is $838.68 and its 200-day moving average price is $967.51. 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, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a market cap of $195.84 billion, a price-to-earnings ratio of 138.52, a PEG ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting 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 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

ServiceNow Company 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.