ServiceNow, Inc. (NYSE:NOW) Insider Jacqueline P. Canney Sells 257 Shares

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 257 shares of ServiceNow stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $878.39, for a total value of $225,746.23. Following the sale, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,658,886.53. This represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ServiceNow Stock Performance

Shares of NOW opened at $855.95 on Tuesday. The business’s 50 day moving average is $979.82 and its two-hundred day moving average is $940.29. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The firm has a market cap of $178.04 billion, a price-to-earnings ratio of 107.80, a PEG ratio of 3.93 and a beta of 0.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company posted $3.13 EPS. ServiceNow’s quarterly revenue was up 22.4% on a year-over-year basis. Analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on NOW shares. Citigroup lifted their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. TD Securities restated a “buy” rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Royal Bank Of Canada lifted their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Truist Financial upgraded ServiceNow from a “hold” rating to a “buy” rating and lifted their price target for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. Finally, FBN Securities upgraded ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,115.20.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in shares of ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after acquiring an additional 12,533 shares in the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $1,820,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $19,278,000. Nicholas Investment Partners LP raised its position in shares of ServiceNow by 223.5% during the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock valued at $2,974,000 after acquiring an additional 1,938 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after acquiring an additional 840,731 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.