Nicholas Tzitzon Sells 313 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Nicholas Tzitzon sold 313 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ServiceNow Trading Down 2.7 %

ServiceNow stock opened at $1,041.42 on Thursday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,072.84. The company has a market cap of $214.53 billion, a P/E ratio of 161.96, a P/E/G ratio of 6.04 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $958.40 and a two-hundred day simple moving average of $842.41.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JMP Securities lifted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Barclays boosted their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. BMO Capital Markets raised their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus boosted their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $989.07.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Creekmur Asset Management LLC bought a new stake in ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc lifted its position in shares of 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 buying an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. Finally, Ridgewood Investments LLC purchased a new position in ServiceNow during the second quarter valued at approximately $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.