ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott Sells 1,263 Shares

ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

ServiceNow Price Performance

NYSE:NOW traded down $13.18 during trading hours on Tuesday, reaching $1,008.63. 1,015,134 shares of the company were exchanged, compared to its average volume of 1,646,327. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average is $1,079.78 and its 200-day moving average is $968.21. The firm has a market cap of $207.78 billion, a PE ratio of 147.68, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. On average, sell-side 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 share buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On ServiceNow

Large investors have recently modified their holdings of the business. Atala Financial Inc purchased a new stake in shares of ServiceNow during the fourth quarter worth $28,000. Truvestments Capital LLC purchased a new stake in shares of ServiceNow in the third quarter valued at about $30,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow in the fourth quarter valued at about $32,000. FPC Investment Advisory Inc. grew its holdings in shares of 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. Finally, Noble Wealth Management PBC purchased a new stake in shares of ServiceNow in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Stifel Nicolaus lifted their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup decreased their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Piper Sandler raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, 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.