ServiceNow, Inc. (NYSE:NOW) Insider Paul John Smith Sells 2,404 Shares

ServiceNow, Inc. (NYSE:NOW) insider Paul John Smith sold 2,404 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the completion of the sale, the insider now directly owns 6,244 shares of the company’s stock, valued at approximately $6,119,432.20. The trade was a 27.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Paul John Smith also recently made the following trade(s):

• On Friday, February 14th, Paul John Smith sold 1,184 shares of ServiceNow stock. The shares were sold at an average price of $980.08, for a total transaction of $1,160,414.72.

ServiceNow Stock Down 1.1 %

Shares of NYSE:NOW opened at $986.61 on Thursday. The firm has a market capitalization of $203.24 billion, a PE ratio of 144.45, a price-to-earnings-growth ratio of 4.59 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. 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 firm’s 50-day moving average is $1,061.97 and its two-hundred day moving average is $976.06.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NOW. Quarry LP purchased a new position in shares of ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow in the fourth quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new position in ServiceNow during the 4th quarter worth approximately $34,000. Finally, Truvestments Capital LLC purchased a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $30,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Evercore ISI upped their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group raised their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

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.