Paul John Smith Sells 2,404 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Paul John Smith sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the completion of the transaction, the insider now directly owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This trade represents a 27.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Paul John Smith also recently made the following trade(s):

• On Friday, February 14th, Paul John Smith sold 1,184 shares of ServiceNow stock. The stock was sold at an average price of $980.08, for a total transaction of $1,160,414.72.

ServiceNow Stock Down 1.9 %

NOW opened at $968.19 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $1,058.36 and a 200 day moving average price of $976.01. The company has a market cap of $199.45 billion, a PE ratio of 141.76, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has authorized a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein upped their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Barclays upped their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Truist Financial upped their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NOW. Quarry LP acquired a new stake in ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter valued at about $28,000. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at about $30,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the 4th quarter valued at about $32,000. Finally, FPC Investment Advisory Inc. raised its holdings 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 valued at $34,000 after acquiring an additional 29 shares during the last quarter. 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.