ServiceNow, Inc. (NYSE:NOW) Director Jeffrey A. Miller Sells 2,879 Shares

ServiceNow, Inc. (NYSE:NOW) Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,039.74 on Friday. The company has a market cap of $214.19 billion, a P/E ratio of 162.03, a PEG ratio of 6.02 and a beta of 0.98. The business has a 50 day moving average of $924.67 and a two-hundred day moving average of $819.71. 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, Inc. has a 52 week low of $637.99 and a 52 week high of $1,061.66.

ServiceNow (NYSE:NOW) last announced its earnings results 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 business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the business posted $1.21 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Hedge Funds Weigh In On ServiceNow

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&G Plc acquired a new position in ServiceNow in the 1st quarter valued at approximately $11,030,000. Avidian Wealth Enterprises LLC grew its position in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after buying an additional 765 shares during the last quarter. AXA S.A. increased its position in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the period. Finally, HWG Holdings LP bought a new position in shares of ServiceNow during the 2nd quarter worth about $2,679,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday. BMO Capital Markets increased their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Oppenheimer increased their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Citigroup increased their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.