Jeffrey A. Miller Sells 2,282 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) Director Jeffrey A. Miller sold 2,282 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the completion of the sale, the director now owns 40,638 shares of the company’s stock, valued at approximately $41,883,148.32. This trade represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ServiceNow Stock Performance

NYSE NOW opened at $989.70 on Friday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a market cap of $203.88 billion, a PE ratio of 144.90, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $1,075.99 and its 200-day simple moving average is $969.56.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently added to or reduced their stakes in the stock. Atala Financial Inc purchased a new stake in ServiceNow in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the fourth quarter valued at $32,000. Noble Wealth Management PBC purchased a new stake in ServiceNow in the fourth quarter valued at $34,000. Truvestments Capital LLC purchased a new stake in ServiceNow in the third quarter valued at $30,000. Finally, FPC Investment Advisory Inc. raised its position in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Guggenheim reissued a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a report on Wednesday, January 22nd. Cantor Fitzgerald started coverage on ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective on the stock. Finally, Mizuho increased their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

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.