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

Gilder Gagnon Howe & Co. LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,841 shares of the information technology services provider's stock after selling 3,302 shares during the period. Gilder Gagnon Howe & Co. LLC's holdings in ServiceNow were worth $32,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in ServiceNow in the fourth quarter valued at $2,603,360,000. Proficio Capital Partners LLC lifted its holdings in ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after buying an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd bought a new position in shares of ServiceNow in the 4th quarter worth $682,468,000. Price T Rowe Associates Inc. MD grew its position in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of ServiceNow in the 4th quarter valued at about $393,868,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 0.1 %

NYSE:NOW traded down $1.12 during mid-day trading on Wednesday, reaching $941.74. 554,756 shares of the company's stock traded hands, compared to its average volume of 1,504,832. The firm has a market capitalization of $194.94 billion, a price-to-earnings ratio of 137.88, a PEG ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a 50 day moving average price of $837.19 and a 200-day moving average price of $967.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company posted $3.41 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved a stock buyback program 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Deborah Black sold 598 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the transaction, the director now owns 428 shares in the company, valued at $402,418.44. The trade was a 58.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,618 shares of company stock valued at $21,132,878 in the last three months. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOW. Needham & Company LLC decreased 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 report on Thursday, April 24th. Wells Fargo & Company raised their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. BMO Capital Markets decreased their target price on ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Citigroup dropped their target price on shares of ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada boosted their price target on ServiceNow from $975.00 to $1,060.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,032.94.

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.