ServiceNow, Inc. (NYSE:NOW) Insider Sells $76,831.44 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 76 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ServiceNow Trading Up 1.2 %

NOW traded up $12.28 during trading on Tuesday, hitting $1,048.29. The company’s stock had a trading volume of 1,289,512 shares, compared to its average volume of 1,280,545. The firm’s 50 day moving average price is $916.20 and its 200-day moving average price is $815.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a twelve month low of $632.25 and a twelve month high of $1,053.26. The stock has a market cap of $215.95 billion, a PE ratio of 161.26, a PEG ratio of 5.79 and a beta of 0.98.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc boosted its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in ServiceNow in the 2nd quarter worth $32,000. Finally, DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NOW shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Evercore ISI raised their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC raised their price objective on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $974.04.

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.