ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott Sells 2,050 Shares

ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

ServiceNow Stock Down 0.0%

NYSE NOW opened at $1,011.96 on Wednesday. ServiceNow, Inc. has a 12 month low of $656.02 and a 12 month high of $1,198.09. The company has a market capitalization of $209.46 billion, a P/E ratio of 148.16, a PEG ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company’s 50 day simple moving average is $906.32 and its 200 day simple moving average is $974.56.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.41 EPS. Equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently bought and sold shares of NOW. Brighton Jones LLC boosted its position in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of ServiceNow in the fourth quarter worth about $48,802,000. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Chicago Partners Investment Group LLC boosted its position in shares of ServiceNow by 3.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 749 shares of the information technology services provider’s stock worth $786,000 after purchasing an additional 23 shares in the last quarter. Finally, Tritonpoint Wealth LLC raised its holdings in shares of ServiceNow by 17.0% in the fourth quarter. Tritonpoint Wealth LLC now owns 777 shares of the information technology services provider’s stock valued at $823,000 after purchasing an additional 113 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on NOW shares. Redburn Atlantic initiated coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Royal Bank of Canada increased their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Erste Group Bank upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 30th. UBS Group restated a “buy” rating and issued a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Finally, Jefferies Financial Group dropped their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.