Kevin Thomas Mcbride Sells 100 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the transaction, the insider now directly owns 3,457 shares of the company’s stock, valued at $3,539,864.29. The trade was a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ServiceNow Stock Up 1.7 %

Shares of NOW stock opened at $1,022.19 on Wednesday. The firm’s fifty day moving average price is $938.70 and its two-hundred day moving average price is $829.46. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66. The firm has a market capitalization of $210.57 billion, a P/E ratio of 158.97, a PEG ratio of 5.80 and a beta of 0.98.

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

Hedge Funds Weigh In On ServiceNow

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new position in shares of ServiceNow in the 1st quarter valued at about $25,000. Versant Capital Management Inc grew its holdings in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. EntryPoint Capital LLC increased its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the last quarter. Truvestments Capital LLC bought a new stake in ServiceNow in the third quarter valued at approximately $30,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $32,000. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. Citigroup raised their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer boosted their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $986.39.

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.