ServiceNow, Inc. (NYSE:NOW) Insider Sells $95,554.76 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $95,554.76. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,077,066.58. This represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ServiceNow Stock Up 1.7 %

Shares of NYSE:NOW traded up $16.85 during midday trading on Tuesday, hitting $1,022.19. The stock had a trading volume of 1,816,639 shares, compared to its average volume of 1,285,622. The company has a market cap of $210.57 billion, a P/E ratio of 156.35, a PEG ratio of 5.80 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The business’s 50-day simple moving average is $935.45 and its 200-day simple moving average is $827.30. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

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, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. On average, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. TD Cowen raised their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Canaccord Genuity Group increased their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI upped their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets raised their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $986.39.

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently added to or reduced their stakes in NOW. Catalyst Financial Partners LLC lifted its stake in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after buying an additional 11 shares during the last quarter. First Affirmative Financial Network boosted its holdings in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after acquiring an additional 12 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the last quarter. BluePointe Capital Management LLC increased its stake in shares of ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after purchasing an additional 12 shares during the period. Finally, Morling Financial Advisors LLC lifted its holdings in ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.