Glynn Capital Management LLC lowered its position in shares of ServiceNow Inc (NYSE:NOW) by 8.5% in the 1st quarter, HoldingsChannel reports. The fund owned 199,667 shares of the information technology services provider’s stock after selling 18,571 shares during the period. ServiceNow makes up 9.1% of Glynn Capital Management LLC’s holdings, making the stock its largest holding. Glynn Capital Management LLC’s holdings in ServiceNow were worth $49,216,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Raymond James & Associates grew its stake in ServiceNow by 2.0% during the first quarter. Raymond James & Associates now owns 254,399 shares of the information technology services provider’s stock valued at $62,707,000 after acquiring an additional 5,086 shares in the last quarter. Parkwood LLC grew its stake in ServiceNow by 69.1% in the 1st quarter. Parkwood LLC now owns 4,059 shares of the information technology services provider’s stock worth $1,001,000 after buying an additional 1,659 shares in the last quarter. Toronto Dominion Bank grew its stake in ServiceNow by 34.7% in the 1st quarter. Toronto Dominion Bank now owns 32,283 shares of the information technology services provider’s stock worth $7,955,000 after buying an additional 8,323 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in ServiceNow by 1.4% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 97,339 shares of the information technology services provider’s stock worth $23,993,000 after buying an additional 1,300 shares in the last quarter. Finally, Sandy Spring Bank grew its stake in ServiceNow by 118.0% in the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after buying an additional 59 shares in the last quarter. 94.02% of the stock is owned by institutional investors.

In related news, Director Anita M. Sands sold 1,304 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $235.00, for a total transaction of $306,440.00. Following the completion of the sale, the director now directly owns 9,571 shares in the company, valued at approximately $2,249,185. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Scarpelli sold 29,553 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $237.88, for a total transaction of $7,030,067.64. Following the sale, the chief financial officer now owns 31,971 shares of the company’s stock, valued at $7,605,261.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,481 shares of company stock valued at $23,570,054. Company insiders own 1.00% of the company’s stock.

Shares of NOW traded up $2.61 during mid-day trading on Wednesday, reaching $274.68. The company’s stock had a trading volume of 590,580 shares, compared to its average volume of 1,992,170. The firm has a market cap of $48.26 billion, a price-to-earnings ratio of 1,373.40, a PEG ratio of 19.18 and a beta of 1.45. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow Inc has a 52 week low of $147.63 and a 52 week high of $275.20.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.10. The firm had revenue of $788.93 million during the quarter, compared to analyst estimates of $768.09 million. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The business’s quarterly revenue was up 33.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS. As a group, equities research analysts predict that ServiceNow Inc will post 0.48 earnings per share for the current year.

A number of equities analysts have commented on the stock. UBS Group reissued a “buy” rating and issued a $230.00 price target (up previously from $214.00) on shares of ServiceNow in a research note on Thursday, January 31st. Canaccord Genuity reissued a “buy” rating and issued a $240.00 price target (up previously from $210.00) on shares of ServiceNow in a research note on Thursday, January 31st. Jefferies Financial Group boosted their price target on shares of ServiceNow to $242.00 and gave the stock a “buy” rating in a research note on Thursday, January 31st. KeyCorp reissued an “overweight” rating and issued a $250.00 price target (up previously from $210.00) on shares of ServiceNow in a research note on Thursday, January 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $243.00 price target (up previously from $224.00) on shares of ServiceNow in a research note on Thursday, January 31st. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $268.24.

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About ServiceNow

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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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