Jackson Square Capital LLC Trims Holdings in ServiceNow, Inc. (NYSE:NOW)

Jackson Square Capital LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 94.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 376 shares of the information technology services provider's stock after selling 5,978 shares during the period. Jackson Square Capital LLC's holdings in ServiceNow were worth $299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares during the last quarter. Norges Bank bought a new position in shares of ServiceNow in the 4th quarter worth about $2,603,360,000. Proficio Capital Partners LLC lifted its position in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after buying an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of ServiceNow in the 4th quarter worth about $682,468,000. Finally, Price T Rowe Associates Inc. MD lifted its position in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Raymond James dropped their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI boosted their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Royal Bank of Canada upped their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Redburn Atlantic assumed coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Stock Performance

Shares of NOW traded up $21.08 during midday trading on Monday, reaching $1,009.74. 657,399 shares of the stock were exchanged, compared to its average volume of 1,480,215. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market cap of $209.00 billion, a P/E ratio of 147.61, a PEG ratio of 4.51 and a beta of 0.95. The stock's 50 day simple moving average is $944.56 and its 200 day simple moving average is $972.50.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the business posted $3.41 earnings per share. The business's quarterly revenue was up 18.6% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $67,518.00. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,096,621. This represents a 2.13% 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, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by insiders.

ServiceNow Company Profile

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.