BDF Gestion Trims Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

BDF Gestion lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,629 shares of the information technology services provider’s stock after selling 992 shares during the quarter. ServiceNow makes up approximately 0.8% of BDF Gestion’s holdings, making the stock its 25th largest holding. BDF Gestion’s holdings in ServiceNow were worth $8,088,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Northwestern Mutual Wealth Management Co. grew its position in shares of ServiceNow by 9.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,561 shares of the information technology services provider’s stock valued at $13,027,000 after purchasing an additional 1,484 shares during the period. Regal Investment Advisors LLC boosted its stake in ServiceNow by 8.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 865 shares of the information technology services provider’s stock worth $681,000 after buying an additional 66 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in ServiceNow by 9.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,206 shares of the information technology services provider’s stock valued at $1,736,000 after buying an additional 186 shares during the period. KPP Advisory Services LLC increased its stake in shares of ServiceNow by 2.4% during the 2nd quarter. KPP Advisory Services LLC now owns 638 shares of the information technology services provider’s stock valued at $502,000 after acquiring an additional 15 shares during the last quarter. Finally, Souders Financial Advisors acquired a new stake in shares of ServiceNow in the second quarter worth approximately $201,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value 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 represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock worth $21,016,751. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. Oppenheimer upped their price target on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities increased their target price on ServiceNow from $1,000.00 to $1,300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 21st. TD Cowen boosted their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial boosted their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,117.86.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,144.86 on Thursday. The stock has a market capitalization of $235.84 billion, a P/E ratio of 178.05, a P/E/G ratio of 5.11 and a beta of 0.99. The firm’s 50-day moving average price is $1,082.77 and its two-hundred day moving average price is $950.94. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.74). ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.06 earnings per share for the current year.

ServiceNow declared that its board has approved a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to buy 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.