ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan Sells 415 Shares

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the sale, the director now directly owns 1,737 shares in the company, valued at approximately $1,749,871.17. The trade was a 19.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,022.95 on Friday. The firm has a market capitalization of $210.73 billion, a price-to-earnings ratio of 149.77, a PEG ratio of 4.74 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The business has a fifty day simple moving average of $1,081.55 and a 200 day simple moving average of $961.64. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last released 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 net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts expect that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow announced that its board has approved a share repurchase 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NOW shares. JPMorgan Chase & Co. upped their target price on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Robert W. Baird cut their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Sanford C. Bernstein raised their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC upped their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Evercore ISI increased their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently modified their holdings of the stock. Czech National Bank grew its stake in ServiceNow by 7.4% in the third quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock valued at $37,532,000 after acquiring an additional 2,900 shares during the period. WealthBridge Capital Management LLC acquired a new position in shares of ServiceNow in the third quarter valued at approximately $221,000. Miracle Mile Advisors LLC increased its position in shares of ServiceNow by 90.6% during the third quarter. Miracle Mile Advisors LLC now owns 4,381 shares of the information technology services provider’s stock worth $3,918,000 after acquiring an additional 2,082 shares in the last quarter. Security National Bank raised its holdings in shares of ServiceNow by 820.8% during the third quarter. Security National Bank now owns 1,860 shares of the information technology services provider’s stock worth $1,664,000 after acquiring an additional 1,658 shares during the period. Finally, Verde Servicos Internacionais S.A. lifted its position in ServiceNow by 72.9% in the 3rd quarter. Verde Servicos Internacionais S.A. now owns 12,709 shares of the information technology services provider’s stock valued at $11,367,000 after acquiring an additional 5,359 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.