ServiceNow, Inc. (NYSE:NOW) Insider Sells $95,554.76 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $95,554.76. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $3,077,066.58. This trade represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

ServiceNow Trading Up 2.5 %

Shares of NYSE NOW opened at $1,048.34 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The firm has a market cap of $215.96 billion, a PE ratio of 163.04, a price-to-earnings-growth ratio of 5.87 and a beta of 0.98. The business has a fifty day simple moving average of $944.90 and a two-hundred day simple moving average of $832.32. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently modified their holdings of the business. Avidian Wealth Enterprises LLC lifted its holdings in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after buying an additional 138 shares during the period. Venturi Wealth Management LLC grew its stake in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the last quarter. AXA S.A. raised its holdings in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares in the last quarter. HWG Holdings LP bought a new stake in shares of ServiceNow in the 2nd quarter valued at about $2,679,000. Finally, Brookstone Capital Management grew its position in shares of ServiceNow by 25.5% in the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after buying an additional 2,928 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on NOW. Wells Fargo & Company lifted their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. TD Cowen boosted their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $900.00 to $960.00 in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $986.39.

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.