ServiceNow, Inc. (NYSE:NOW) is Glynn Capital Management LLC's 3rd Largest Position

Glynn Capital Management LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 29.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,351 shares of the information technology services provider's stock after selling 11,226 shares during the quarter. ServiceNow accounts for approximately 6.6% of Glynn Capital Management LLC's investment portfolio, making the stock its 3rd largest position. Glynn Capital Management LLC's holdings in ServiceNow were worth $27,935,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NOW. State Street Corp raised its position in ServiceNow by 2.6% during the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider's stock valued at $8,118,867,000 after purchasing an additional 226,023 shares in the last quarter. FMR LLC increased its stake in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock worth $4,268,731,000 after buying an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider's stock worth $3,753,828,000 after buying an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock valued at $2,834,797,000 after buying an additional 615,797 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Cowen increased their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. raised their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. KeyCorp downgraded shares of ServiceNow from an "overweight" rating to a "sector weight" rating in a report on Friday, December 13th. Robert W. Baird cut their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $1,275.00 price objective on shares of ServiceNow in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,100.31.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Up 0.5 %

Shares of NYSE NOW traded up $3.80 during mid-day trading on Friday, hitting $827.92. 2,904,241 shares of the stock traded hands, compared to its average volume of 1,351,375. The stock has a fifty day moving average price of $971.31 and a 200-day moving average price of $984.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $170.55 billion, a price-to-earnings ratio of 121.22, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week 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 for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are 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.