ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 336 Shares

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 336 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,408,026.60. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ServiceNow Price Performance

NYSE NOW opened at $1,008.63 on Wednesday. The business’s fifty day moving average price is $1,079.78 and its 200-day moving average price is $968.21. The stock has a market capitalization of $207.78 billion, a price-to-earnings ratio of 147.68, a PEG ratio of 4.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has approved a stock repurchase program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atala Financial Inc purchased a new stake in shares of ServiceNow in the 4th quarter worth $28,000. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter worth $30,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the 4th quarter worth $32,000. FPC Investment Advisory Inc. increased its stake in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new stake in ServiceNow in the 4th quarter worth $34,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on NOW shares. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday. TD Cowen upped their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. upped their target price on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Robert W. Baird reduced their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

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.