ServiceNow, Inc. (NOW) Shares Bought by Gilder Gagnon Howe & Co. LLC
Gilder Gagnon Howe & Co. LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 15.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,505 shares of the information technology services provider’s stock after buying an additional 22,312 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in ServiceNow were worth $17,544,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Cornerstone Advisors Inc. raised its stake in shares of ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 245 shares during the period. Global X Management Co. LLC raised its stake in shares of ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 330 shares during the period. Hartford Financial Management Inc. purchased a new stake in shares of ServiceNow during the first quarter valued at about $125,000. TLP Group LLC purchased a new stake in shares of ServiceNow during the first quarter valued at about $131,000. Finally, Crow Point Partners LLC raised its stake in shares of ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock valued at $140,000 after buying an additional 107 shares during the period. 97.53% of the stock is owned by hedge funds and other institutional investors.
ServiceNow, Inc. (NOW) opened at 108.76 on Tuesday. ServiceNow, Inc. has a 12-month low of $71.25 and a 12-month high of $115.85. The firm’s 50 day moving average price is $107.37 and its 200-day moving average price is $95.91. The stock’s market cap is $18.53 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 30.72%. The firm had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s revenue was up 38.2% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.
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Several equities research analysts have issued reports on NOW shares. Deutsche Bank AG lifted their price target on ServiceNow from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Zacks Investment Research raised ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Friday, April 28th. DA Davidson set a $118.00 price target on ServiceNow and gave the stock a “buy” rating in a research note on Thursday, April 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 price target (up previously from $105.00) on shares of ServiceNow in a research note on Thursday, April 27th. Finally, BTIG Research reaffirmed a “buy” rating on shares of ServiceNow in a research note on Monday, April 24th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $115.96.
In other news, Director Frederic B. Luddy sold 167,000 shares of ServiceNow stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the completion of the sale, the director now owns 11,190 shares of the company’s stock, valued at $1,212,324.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO David Schneider sold 2,243 shares of ServiceNow stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $97.04, for a total transaction of $217,660.72. Following the sale, the executive now directly owns 47,654 shares of the company’s stock, valued at approximately $4,624,344.16. The disclosure for this sale can be found here. Insiders have sold 731,884 shares of company stock valued at $79,049,745 in the last ninety days. Insiders own 3.30% of the company’s stock.
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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