ServiceNow, Inc. (NYSE:NOW) CFO Sells $85,932.00 in Stock

ServiceNow, Inc. (NYSE:NOW) CFO Gina Mastantuono sold 84 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $85,932.00. Following the sale, the chief financial officer now directly owns 11,218 shares in the company, valued at $11,476,014. This represents a 0.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Gina Mastantuono also recently made the following trade(s):

• On Thursday, May 8th, Gina Mastantuono sold 292 shares of ServiceNow stock. The stock was sold at an average price of $985.00, for a total value of $287,620.00.
• On Friday, February 21st, Gina Mastantuono sold 4,442 shares of ServiceNow stock. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40.

ServiceNow Stock Up 0.5%

Shares of NYSE:NOW opened at $1,040.22 on Friday. The firm has a market cap of $215.33 billion, a P/E ratio of 152.30, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The business has a fifty day simple moving average of $863.52 and a 200 day simple moving average of $973.12.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the company earned $3.41 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

NOW has been the topic of a number of analyst reports. Raymond James reduced their price target on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Citigroup raised their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Finally, Truist Financial raised ServiceNow from a “hold” rating to a “buy” rating and raised their target price for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,062.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NOW. Quarry LP acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $34,000. Finally, Bogart Wealth LLC grew its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares during the period. 87.18% of the stock is owned by institutional investors.

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.