ServiceNow, Inc. (NYSE:NOW) CFO Sells $4,285,197.40 in Stock

ServiceNow, Inc. (NYSE:NOW) CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ServiceNow Stock Performance

NYSE NOW opened at $920.73 on Friday. The business has a 50 day moving average price of $1,041.30 and a 200 day moving average price of $980.81. The company has a market capitalization of $189.67 billion, a P/E ratio of 134.81, a PEG ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

NOW has been the topic of a number of recent research reports. Piper Sandler lifted their target price 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. Scotiabank assumed coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Cantor Fitzgerald initiated coverage on ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. Truist Financial boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Finally, Oppenheimer increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in ServiceNow by 1.5% during the 3rd quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock valued at $996,000 after buying an additional 16 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of ServiceNow by 2.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 1,080 shares of the information technology services provider’s stock valued at $966,000 after acquiring an additional 23 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of ServiceNow by 108.7% during the third quarter. GHP Investment Advisors Inc. now owns 192 shares of the information technology services provider’s stock valued at $172,000 after acquiring an additional 100 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in ServiceNow during the 3rd quarter worth about $244,000. Finally, Capital Advisors Ltd. LLC raised its stake in ServiceNow by 14.6% in the 3rd 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. 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.