ServiceNow, Inc. (NYSE:NOW) CFO Sells $4,285,197.40 in Stock

ServiceNow, Inc. (NYSE:NOW) CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % 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 Price Performance

NYSE NOW opened at $922.14 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $189.96 billion, a price-to-earnings ratio of 135.01, a PEG ratio of 4.51 and a beta of 0.99. The business has a 50 day simple moving average of $1,046.77 and a 200 day simple moving average of $981.50. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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 anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has initiated a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Cowen upped their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Oppenheimer lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James initiated coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Institutional Trading of ServiceNow

Institutional investors have recently modified their holdings of the company. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after buying an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the last quarter. Institute for Wealth Management LLC. lifted its position in shares of ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after purchasing an additional 11 shares in the last quarter. Finally, TBH Global Asset Management LLC boosted its holdings in ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after purchasing an additional 11 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.