ServiceNow (NYSE:NOW) Insider Sells $249,352.75 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Paul Fipps sold 305 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $817.55, for a total transaction of $249,352.75. Following the transaction, the insider directly owned 541 shares of the company’s stock, valued at $442,294.55. This represents a 36.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ServiceNow Stock Down 0.3%

Shares of NOW stock traded down $2.79 during trading on Wednesday, reaching $815.18. The company’s stock had a trading volume of 1,913,438 shares, compared to its average volume of 1,641,529. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The business has a fifty day moving average price of $908.37 and a 200-day moving average price of $946.44. The company has a market cap of $169.56 billion, a price-to-earnings ratio of 98.57, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94. 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 shares are scheduled to split on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly minted shares will be distributed to shareholders after the market closes on Thursday, December 4th.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.61. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business earned $3.72 EPS. The company’s revenue was up 21.8% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America upped their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Cowen reissued a “buy” rating on shares of ServiceNow in a report on Friday, October 24th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,093.00 price target on shares of ServiceNow in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,159.66.

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently added to or reduced their stakes in NOW. Center For Asset Management LLC boosted its position in ServiceNow by 10.5% during the third quarter. Center For Asset Management LLC now owns 306 shares of the information technology services provider’s stock worth $282,000 after purchasing an additional 29 shares during the period. Captrust Financial Advisors lifted its stake in shares of ServiceNow by 2.2% during the 3rd quarter. Captrust Financial Advisors now owns 34,524 shares of the information technology services provider’s stock worth $31,772,000 after buying an additional 754 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of ServiceNow by 5.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,165 shares of the information technology services provider’s stock worth $5,674,000 after buying an additional 312 shares during the period. Aspire Private Capital LLC grew its stake in ServiceNow by 9.1% in the 3rd quarter. Aspire Private Capital LLC now owns 1,328 shares of the information technology services provider’s stock valued at $1,222,000 after buying an additional 111 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in ServiceNow in the 3rd quarter valued at about $21,875,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.