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

by · The Markets Daily

Gilder Gagnon Howe & Co. LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Atala Financial Inc bought a new position in shares of ServiceNow during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the fourth quarter worth approximately $32,000. Noble Wealth Management PBC bought a new position in ServiceNow during the 4th quarter worth $34,000. FPC Investment Advisory Inc. raised its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler decreased their price target on ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating on the stock in a research report on Thursday. Robert W. Baird raised their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a report on Thursday. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada increased their price target on shares of ServiceNow from $975.00 to $1,060.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC lowered their price objective on shares of ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,032.94.

View Our Latest Stock Report on NOW

ServiceNow Trading Up 0.8 %

NYSE NOW opened at $946.08 on Friday. The firm has a market capitalization of $195.84 billion, a PE ratio of 138.52, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The business’s 50-day moving average price is $838.68 and its two-hundred 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.

ServiceNow (NYSE:NOW – Get Free Report) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock repurchase program 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,435,554.47. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is currently owned by insiders.

ServiceNow Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Free Report).