Frederic B. Luddy Sells 22,000 Shares of ServiceNow Inc (NYSE:NOW) Stock

ServiceNow Inc (NYSE:NOW) Director Frederic B. Luddy sold 22,000 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $291.33, for a total transaction of $6,409,260.00. Following the completion of the transaction, the director now owns 2,983 shares in the company, valued at $869,037.39. The sale was disclosed in a filing with the SEC, which is available through this link.

NYSE NOW opened at $298.75 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88. The company’s 50 day simple moving average is $276.30. ServiceNow Inc has a 52-week low of $147.63 and a 52-week high of $302.99. The company has a market capitalization of $55.29 billion, a P/E ratio of 1,493.75, a PEG ratio of 21.72 and a beta of 1.33.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The firm had revenue of $788.93 million for the quarter, compared to the consensus estimate of $768.09 million. During the same period last year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was up 33.9% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow Inc will post 0.48 earnings per share for the current year.

A number of brokerages have commented on NOW. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research note on Thursday, April 25th. Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th. Cowen upped their target price on shares of ServiceNow from $260.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets upgraded shares of Gold Fields from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $270.68.

A number of institutional investors and hedge funds have recently made changes to their positions in NOW. Castle Rock Wealth Management LLC raised its position in shares of ServiceNow by 3.5% during the fourth quarter. Castle Rock Wealth Management LLC now owns 1,815 shares of the information technology services provider’s stock worth $414,000 after purchasing an additional 61 shares during the period. Stephens Inc. AR acquired a new stake in shares of ServiceNow during the fourth quarter worth about $306,000. Advisor Group Inc. raised its position in shares of ServiceNow by 21.0% during the fourth quarter. Advisor Group Inc. now owns 3,925 shares of the information technology services provider’s stock worth $699,000 after purchasing an additional 681 shares during the period. Fiera Capital Corp raised its position in shares of ServiceNow by 14.0% during the fourth quarter. Fiera Capital Corp now owns 6,953 shares of the information technology services provider’s stock worth $1,238,000 after purchasing an additional 852 shares during the period. Finally, Resources Investment Advisors Inc. acquired a new stake in shares of ServiceNow during the fourth quarter worth about $36,000. Institutional investors own 92.97% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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