Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells 66 Shares of Stock

by · The Markets Daily

ServiceNow, Inc. (NYSE:NOW – Get Free Report) insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ServiceNow Stock Performance

Shares of NYSE:NOW traded down $35.88 during trading on Friday, hitting $1,003.92. 450,548 shares of the stock traded hands, compared to its average volume of 1,276,412. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $928.75 and a two-hundred day moving average price of $821.23. The company has a market cap of $206.81 billion, a price-to-earnings ratio of 159.03, a P/E/G ratio of 6.00 and a beta of 0.98.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Creekmur Asset Management LLC purchased a new position in ServiceNow during the 1st quarter worth $25,000. Versant Capital Management Inc raised its stake in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC lifted its position in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the period. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the 3rd quarter valued at approximately $30,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Evercore ISI raised their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup boosted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, Royal Bank of Canada increased their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

Check Out Our Latest Stock Report on NOW

About ServiceNow

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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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