ServiceNow, Inc. (NYSE:NOW) Insider Sells $102,397.00 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Kevin Thomas Mcbride sold 100 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $102,397.00. Following the completion of the sale, the insider now directly owns 3,457 shares of the company’s stock, valued at $3,539,864.29. The trade was a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,048.34 on Friday. 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 firm’s 50-day moving average price is $944.90 and its two-hundred day moving average price is $832.32. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The stock has a market capitalization of $215.96 billion, a P/E ratio of 163.04, a P/E/G ratio of 5.87 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently made changes to their positions in NOW. Quent Capital LLC raised its holdings in shares of ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 30 shares during the last quarter. Edgestream Partners L.P. bought a new stake in ServiceNow during the first quarter worth approximately $210,000. Bahl & Gaynor Inc. raised its holdings in ServiceNow by 71.9% during the first quarter. Bahl & Gaynor Inc. now owns 806 shares of the information technology services provider’s stock worth $614,000 after purchasing an additional 337 shares in the last quarter. Seven Eight Capital LP raised its holdings in ServiceNow by 9.4% during the first quarter. Seven Eight Capital LP now owns 1,222 shares of the information technology services provider’s stock worth $932,000 after purchasing an additional 105 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in ServiceNow by 97.2% during the first quarter. Lake Street Advisors Group LLC now owns 2,021 shares of the information technology services provider’s stock worth $1,540,000 after purchasing an additional 996 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of several analyst reports. BMO Capital Markets upped their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Barclays upped their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup upped their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Needham & Company LLC upped their price target on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

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.