Glynn Capital Management LLC increased its position in shares of ServiceNow Inc (NYSE:NOW) by 23.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,733 shares of the information technology services provider’s stock after acquiring an additional 29,835 shares during the period. ServiceNow comprises about 4.4% of Glynn Capital Management LLC’s portfolio, making the stock its 11th biggest position. Glynn Capital Management LLC’s holdings in ServiceNow were worth $20,697,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of NOW. DnB Asset Management AS grew its position in shares of ServiceNow by 2.8% in the 4th quarter. DnB Asset Management AS now owns 18,442 shares of the information technology services provider’s stock valued at $2,405,000 after buying an additional 500 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of ServiceNow by 1.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 135,944 shares of the information technology services provider’s stock valued at $15,977,000 after buying an additional 1,528 shares during the last quarter. IFM Investors Pty Ltd bought a new stake in shares of ServiceNow in the 3rd quarter valued at about $514,000. Insight Capital Research & Management Inc. bought a new stake in shares of ServiceNow in the 3rd quarter valued at about $3,584,000. Finally, Neuberger Berman Group LLC grew its position in shares of ServiceNow by 0.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 234,855 shares of the information technology services provider’s stock valued at $27,603,000 after buying an additional 1,252 shares during the last quarter.
In related news, Director Frederic B. Luddy sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $135.37, for a total transaction of $13,537,000.00. Following the transaction, the director now directly owns 240,000 shares of the company’s stock, valued at approximately $32,488,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael Scarpelli sold 95,035 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $126.52, for a total value of $12,023,828.20. Following the transaction, the insider now directly owns 194,664 shares in the company, valued at $24,628,889.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 630,174 shares of company stock worth $80,823,650. 3.30% of the stock is owned by company insiders.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The business had revenue of $498.20 million for the quarter, compared to the consensus estimate of $491.62 million. During the same period in the prior year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. analysts anticipate that ServiceNow Inc will post -0.35 earnings per share for the current year.
A number of equities research analysts have commented on NOW shares. Summit Redstone reiterated a “buy” rating and issued a $135.00 price target on shares of ServiceNow in a research report on Monday, September 18th. Robert W. Baird set a $120.00 price target on ServiceNow and gave the company a “buy” rating in a research report on Friday, October 6th. BMO Capital Markets reiterated a “buy” rating and issued a $127.00 price target on shares of ServiceNow in a research report on Friday, October 13th. Mizuho reiterated a “buy” rating on shares of ServiceNow in a research report on Monday, October 16th. Finally, OTR Global upgraded ServiceNow to a “positive” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. ServiceNow currently has a consensus rating of “Buy” and an average target price of $133.00.
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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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