ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan Sells 415 Shares

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $1,010.46, for a total value of $419,340.90. Following the completion of the transaction, the director now owns 1,322 shares of the company’s stock, valued at approximately $1,335,828.12. This represents a 23.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Larry Quinlan also recently made the following trade(s):

• On Tuesday, February 4th, Larry Quinlan sold 415 shares of ServiceNow stock. The shares were sold at an average price of $1,007.41, for a total value of $418,075.15.

ServiceNow Stock Down 2.7 %

NOW stock opened at $981.42 on Thursday. The company has a market cap of $202.17 billion, a PE ratio of 143.69, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The business has a 50-day simple moving average of $1,078.82 and a 200 day simple moving average of $969.48.

ServiceNow (NYSE:NOW) last issued its quarterly 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 net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of the business. World Investment Advisors LLC boosted 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 buying an additional 4,771,830 shares in the last quarter. Norges Bank acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $2,603,360,000. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 89,137.0% during the 3rd 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 purchasing an additional 1,183,739 shares during the last quarter. Bank of Montreal Can increased its position in ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Evercore ISI raised their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Robert W. Baird reduced their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Guggenheim restated a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald started 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Company Profile

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.