ServiceNow, Inc. (NYSE:NOW) Vice Chairman Nicholas Tzitzon Sells 2,945 Shares

ServiceNow, Inc. (NYSE:NOW) Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ServiceNow Stock Up 0.9 %

NOW opened at $929.56 on Friday. The company has a market cap of $191.49 billion, a P/E ratio of 136.10, a P/E/G ratio of 4.51 and a beta of 0.99. The business’s 50-day moving average price is $1,038.07 and its 200-day moving average price is $981.66. 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, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

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 the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a stock buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding 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 programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Cowen boosted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup lowered their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Redburn Atlantic assumed coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Canaccord Genuity Group upped their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Oppenheimer upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Modera Wealth Management LLC bought a new stake in shares of ServiceNow in the third quarter worth about $244,000. Pallas Capital Advisors LLC grew its stake in shares of ServiceNow by 8.0% in the third quarter. Pallas Capital Advisors LLC now owns 2,410 shares of the information technology services provider’s stock worth $2,305,000 after purchasing an additional 179 shares during the last quarter. Strategic Blueprint LLC bought a new stake in shares of ServiceNow in the third quarter worth about $241,000. Valmark Advisers Inc. grew its stake in shares of ServiceNow by 6.0% in the third quarter. Valmark Advisers Inc. now owns 2,332 shares of the information technology services provider’s stock worth $2,086,000 after purchasing an additional 133 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in shares of ServiceNow by 6.9% in the third quarter. Fidelis Capital Partners LLC now owns 1,277 shares of the information technology services provider’s stock worth $1,159,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors 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.