ServiceNow (NOW) Insider Sells $2,677,472.03 in Stock

ServiceNow (NYSE:NOW) insider Chirantan Jitendra Desai sold 15,031 shares of the company’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $178.13, for a total value of $2,677,472.03. Following the sale, the insider now directly owns 15,534 shares of the company’s stock, valued at $2,767,071.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Chirantan Jitendra Desai also recently made the following trade(s):

  • On Monday, February 26th, Chirantan Jitendra Desai sold 30,000 shares of ServiceNow stock. The shares were sold at an average price of $161.27, for a total value of $4,838,100.00.
  • On Tuesday, February 20th, Chirantan Jitendra Desai sold 19,742 shares of ServiceNow stock. The shares were sold at an average price of $156.39, for a total value of $3,087,451.38.

NOW opened at $171.71 on Friday. ServiceNow has a fifty-two week low of $170.58 and a fifty-two week high of $173.59. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market cap of $30.64 billion, a PE ratio of -163.53, a PEG ratio of 29.87 and a beta of 1.07.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 25th. The information technology services provider reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.19. ServiceNow had a negative return on equity of 10.63% and a negative net margin of 4.65%. The company had revenue of $589.20 million during the quarter, compared to the consensus estimate of $570.63 million. During the same period last year, the business earned $0.25 EPS. The business’s quarterly revenue was up 37.4% on a year-over-year basis. research analysts forecast that ServiceNow will post 0.13 EPS for the current fiscal year.

Several equities research analysts have recently commented on NOW shares. Bank of America upped their target price on ServiceNow from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Mizuho reaffirmed a “buy” rating and set a $160.00 target price (up from $140.00) on shares of ServiceNow in a report on Monday, January 22nd. Zacks Investment Research downgraded ServiceNow from a “strong-buy” rating to a “hold” rating in a report on Friday, April 27th. Credit Suisse Group reissued a “buy” rating and issued a $165.00 price objective on shares of ServiceNow in a research note on Sunday, February 11th. Finally, JPMorgan Chase increased their price objective on ServiceNow from $147.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, April 26th. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. ServiceNow presently has a consensus rating of “Buy” and a consensus target price of $169.07.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Atlantic Trust Group LLC increased its holdings in shares of ServiceNow by 803.6% during the 1st quarter. Atlantic Trust Group LLC now owns 11,096 shares of the information technology services provider’s stock valued at $1,836,000 after acquiring an additional 9,868 shares during the last quarter. Kingfisher Capital LLC increased its holdings in shares of ServiceNow by 8.9% during the 1st quarter. Kingfisher Capital LLC now owns 4,673 shares of the information technology services provider’s stock valued at $773,000 after acquiring an additional 383 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of ServiceNow during the 1st quarter valued at about $4,536,000. Millennium Management LLC increased its holdings in shares of ServiceNow by 355.8% during the 1st quarter. Millennium Management LLC now owns 696,135 shares of the information technology services provider’s stock valued at $115,176,000 after acquiring an additional 543,392 shares during the last quarter. Finally, Marble Arch Investments LP increased its holdings in shares of ServiceNow by 161.9% during the 1st quarter. Marble Arch Investments LP now owns 408,500 shares of the information technology services provider’s stock valued at $67,586,000 after acquiring an additional 252,500 shares during the last quarter. 97.84% of the stock is owned by institutional investors.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

Insider Buying and Selling by Quarter for ServiceNow (NYSE:NOW)

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