Russell S. Elmer Sells 81 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 81 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $6,956,183.22. The trade was a 1.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ServiceNow Trading Up 0.1 %

NOW opened at $1,022.98 on Thursday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,061.66. The business has a fifty day simple moving average of $941.65 and a 200-day simple moving average of $830.81. The firm has a market cap of $210.73 billion, a P/E ratio of 159.10, a P/E/G ratio of 5.87 and a beta of 0.98. 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 released 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. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the business posted $1.21 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Institutional Trading of ServiceNow

Hedge funds have recently modified their holdings of the stock. Avidian Wealth Enterprises LLC raised its stake in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after acquiring an additional 765 shares in the last quarter. AXA S.A. raised its stake in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of ServiceNow in the second quarter valued at $2,679,000. Finally, Brookstone Capital Management raised its stake in shares of ServiceNow by 25.5% in the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock valued at $10,595,000 after acquiring an additional 2,928 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on NOW. Robert W. Baird increased their target price on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. KeyCorp increased their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial increased their target price on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $900.00 to $960.00 in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price 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.