BDF Gestion Sells 992 Shares of ServiceNow, Inc. (NYSE:NOW)

BDF Gestion decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,629 shares of the information technology services provider's stock after selling 992 shares during the quarter. ServiceNow comprises 0.8% of BDF Gestion's investment portfolio, 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.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in shares of ServiceNow during the 4th quarter worth about $50,000. Highland Capital Management LLC acquired a new stake in ServiceNow in the 4th quarter worth approximately $2,501,000. Merrion Investment Management Co LLC bought a new stake in ServiceNow during the fourth quarter worth approximately $212,000. Milestone Asset Management LLC bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $750,000. Finally, Hanson & Doremus Investment Management lifted its stake in shares of ServiceNow by 5.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 427 shares of the information technology services provider's stock worth $453,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 313 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company's stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 76 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

NYSE:NOW traded down $131.96 on Thursday, reaching $1,011.67. The stock had a trading volume of 6,194,674 shares, compared to its average volume of 1,655,496. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $208.40 billion, a P/E ratio of 157.34, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a fifty day moving average price of $1,085.21 and a 200-day moving average price of $952.30.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $3.67 by ($1.74). ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. Research analysts forecast that ServiceNow, Inc. will post 7.06 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently commented on NOW. Robert W. Baird dropped their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating on the stock in a report on Thursday. Royal Bank of Canada reissued an "outperform" rating and set a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday. Scotiabank started coverage on ServiceNow in a report on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 target price on the stock. Citigroup lifted their price target on ServiceNow from $1,071.00 to $1,432.00 and gave the stock a "buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,129.93.

About ServiceNow

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.