Glynn Capital Management LLC increased its holdings in shares of ServiceNow Inc (NYSE:NOW) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,424 shares of the information technology services provider’s stock after purchasing an additional 8,180 shares during the period. ServiceNow accounts for 8.7% of Glynn Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. Glynn Capital Management LLC owned 0.10% of ServiceNow worth $47,578,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Delta Asset Management LLC TN purchased a new position in shares of ServiceNow in the 3rd quarter valued at about $25,000. San Francisco Sentry Investment Group CA increased its holdings in shares of ServiceNow by 650.0% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 91 shares in the last quarter. AdvisorNet Financial Inc purchased a new position in shares of ServiceNow in the 3rd quarter valued at about $31,000. North Star Investment Management Corp. purchased a new position in ServiceNow during the 3rd quarter valued at about $32,000. Finally, Motco purchased a new position in ServiceNow during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Shares of NYSE:NOW traded up $7.56 during midday trading on Friday, reaching $248.45. The company had a trading volume of 1,904,805 shares, compared to its average volume of 1,975,001. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s fifty day moving average price is $253.22 and its 200-day moving average price is $267.00. The stock has a market capitalization of $45.35 billion, a P/E ratio of 1,242.25, a PEG ratio of 17.96 and a beta of 1.28. ServiceNow Inc has a one year low of $147.63 and a one year high of $303.17.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.81. The business had revenue of $885.80 million during the quarter, compared to analyst estimates of $885.53 million. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. The business’s revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. As a group, sell-side analysts forecast that ServiceNow Inc will post 0.48 earnings per share for the current year.
Several research firms have weighed in on NOW. Stifel Nicolaus upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and raised their target price for the company from $290.00 to $320.00 in a report on Wednesday, August 21st. Robert W. Baird raised their target price on shares of ServiceNow from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. ValuEngine upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Friday, November 1st. BTIG Research raised their target price on shares of ServiceNow to $320.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC raised their target price on shares of ServiceNow from $276.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $292.31.
In related news, CFO Michael Scarpelli sold 31,183 shares of ServiceNow stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $260.22, for a total value of $8,114,440.26. Following the completion of the sale, the chief financial officer now owns 36,200 shares in the company, valued at $9,419,964. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chirantan Jitendra Desai sold 1,563 shares of ServiceNow stock in a transaction on Monday, August 12th. The stock was sold at an average price of $261.30, for a total transaction of $408,411.90. Following the completion of the sale, the insider now owns 33,864 shares of the company’s stock, valued at approximately $8,848,663.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,854 shares of company stock valued at $22,294,182. Insiders own 1.00% of the company’s stock.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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