GAM Holding AG Cuts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

GAM Holding AG cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,498 shares of the information technology services provider's stock after selling 1,787 shares during the quarter. GAM Holding AG's holdings in ServiceNow were worth $10,069,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NOW. Truvestments Capital LLC purchased a new stake in ServiceNow in the third quarter worth about $30,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $37,000. Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $37,000. DT Investment Partners LLC increased its position in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after buying an additional 17 shares in the last quarter. Finally, Avion Wealth raised its stake in ServiceNow by 44.8% during the fourth quarter. Avion Wealth now owns 42 shares of the information technology services provider's stock valued at $44,000 after buying an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 384 shares of ServiceNow stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total transaction of $378,869.76. Following the sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,525,636.96. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,806 shares of company stock worth $16,065,122. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOW. Robert W. Baird reduced their price target on ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Truist Financial raised their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "hold" rating in a research note on Thursday, December 12th. Oppenheimer lifted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,129.72.

ServiceNow Trading Down 3.1 %

NYSE:NOW traded down $30.19 during midday trading on Friday, hitting $937.79. 2,001,299 shares of the company traded hands, compared to its average volume of 1,645,842. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average is $1,054.69 and its 200-day moving average is $977.09. The firm has a market capitalization of $193.18 billion, a P/E ratio of 137.30, a P/E/G ratio of 4.60 and a beta of 0.99. 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 (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

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.