ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 2,511 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 2,511 shares of ServiceNow stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at $4,384,373.88. The trade was a 36.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

ServiceNow Price Performance

Shares of NOW opened at $1,026.25 on Thursday. The stock’s fifty day moving average is $1,081.85 and its 200-day moving average is $961.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $211.41 billion, a price-to-earnings ratio of 150.26, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its 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 return on equity of 17.11% and a net margin of 12.97%. Equities analysts anticipate that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow declared that its board has initiated a share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Noble Wealth Management PBC acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $34,000. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter worth approximately $30,000. FPC Investment Advisory Inc. increased its holdings in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at $37,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at $37,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Evercore ISI upped their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler raised their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Robert W. Baird cut their price objective on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Cantor Fitzgerald began coverage on ServiceNow in a research note on Friday, January 17th. They set an “overweight” rating and a $1,332.00 target price for the company. Finally, KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

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.