ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 336 Shares

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 336 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $341,896.80. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,408,026.60. This trade represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

ServiceNow Trading Down 1.3 %

Shares of NOW traded down $13.18 on Tuesday, hitting $1,008.63. 1,015,134 shares of the stock traded hands, compared to its average volume of 1,646,327. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $207.78 billion, a P/E ratio of 147.68, a P/E/G ratio of 4.76 and a beta of 0.99. The stock’s 50 day moving average is $1,079.78 and its two-hundred day moving average is $968.21. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated a stock repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Mizuho upped their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group upped their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently made changes to their positions in NOW. Atala Financial Inc acquired a new stake in shares of ServiceNow in the fourth quarter worth $28,000. Truvestments Capital LLC acquired a new stake in ServiceNow during the 3rd quarter valued at $30,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the 4th quarter valued at $32,000. FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% during the 4th 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 in the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.