ServiceNow, Inc. (NYSE:NOW) Insider Sells $333,219.80 in Stock

by · The Markets Daily

ServiceNow, Inc. (NYSE:NOW – Get Free Report) insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ServiceNow Stock Down 2.7 %

NOW traded down $28.67 on Wednesday, reaching $1,041.40. 964,776 shares of the company traded hands, compared to its average volume of 1,284,012. The stock’s 50 day moving average price is $955.40 and its 200-day moving average price is $841.01. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,072.84. The company has a market cap of $214.53 billion, a price-to-earnings ratio of 166.42, a PEG ratio of 6.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Institutional Trading of ServiceNow

A number of institutional investors have recently added to or reduced their stakes in NOW. World Investment Advisors LLC lifted its stake in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC lifted its stake in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the last quarter. Swedbank AB acquired a new stake in ServiceNow in the first quarter valued at approximately $897,908,000. Bank of Montreal Can lifted its stake in ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after acquiring an additional 935,848 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on NOW. Jefferies Financial Group raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Mizuho raised their price objective on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Citigroup raised their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, JMP Securities raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $989.07.

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ServiceNow Company Profile

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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.

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