ServiceNow Stock Set to Split on Friday, December 5th (NYSE:NOW)

Shares of ServiceNow, Inc. (NYSE:NOW) are going to split on the morning of Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly minted shares will be issued to shareholders after the closing bell on Thursday, December 4th.

ServiceNow Price Performance

NOW stock opened at $802.93 on Thursday. The stock has a 50-day moving average price of $895.47 and a two-hundred day moving average price of $940.64. ServiceNow has a 1 year low of $678.66 and a 1 year high of $1,198.09. The stock has a market cap of $167.01 billion, a PE ratio of 97.09, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NOW shares. Wells Fargo & Company set a $1,275.00 price target on ServiceNow in a research report on Thursday, October 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research report on Thursday, October 30th. Zacks Research downgraded shares of ServiceNow from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $1,020.00 to $1,075.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Mizuho set a $1,150.00 price target on shares of ServiceNow in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,149.67.

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 305 shares of ServiceNow stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $817.55, for a total value of $249,352.75. Following the completion of the sale, the insider owned 541 shares of the company’s stock, valued at approximately $442,294.55. This trade represents a 36.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 522 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $827.08, for a total transaction of $431,735.76. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,481,240. The trade was a 14.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,762 shares of company stock valued at $2,390,667. Company insiders own 0.34% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in ServiceNow during the first quarter valued at $382,000. Corient IA LLC bought a new stake in shares of ServiceNow in the 1st quarter worth about $796,000. Goldman Sachs Group Inc. increased its holdings in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in shares of ServiceNow during the 1st quarter valued at about $19,278,000. Finally, Cascade Investment Group Inc. lifted its holdings in shares of ServiceNow by 12.8% in the 1st quarter. Cascade Investment Group Inc. now owns 451 shares of the information technology services provider’s stock valued at $359,000 after acquiring an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.