Jacqueline P. Canney Sells 354 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,435,554.47. This represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ServiceNow Stock Down 3.1 %

Shares of NYSE:NOW traded down $24.48 during midday trading on Thursday, reaching $772.18. The company’s stock had a trading volume of 1,802,088 shares, compared to its average volume of 1,474,652. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a market capitalization of $159.84 billion, a P/E ratio of 113.06, a PEG ratio of 4.51 and a beta of 1.08. The firm has a 50 day moving average of $862.65 and a 200-day moving average of $971.02. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last posted 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 return on equity of 17.11% and a net margin of 12.97%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on NOW. Bank of America cut their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a research report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. Finally, BMO Capital Markets cut their price target on shares of ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,057.17.

Institutional Trading of ServiceNow

A number of institutional investors and hedge funds have recently bought and sold shares of the company. NBT Bank N A NY raised its holdings in ServiceNow by 32.4% in the 1st quarter. NBT Bank N A NY now owns 1,442 shares of the information technology services provider’s stock worth $1,148,000 after acquiring an additional 353 shares during the last quarter. Strategic Advisors LLC lifted its holdings in shares of ServiceNow by 25.3% during the first quarter. Strategic Advisors LLC now owns 4,707 shares of the information technology services provider’s stock valued at $3,747,000 after purchasing an additional 950 shares in the last quarter. Chicago Capital LLC boosted its position in shares of ServiceNow by 0.7% during the first quarter. Chicago Capital LLC now owns 78,207 shares of the information technology services provider’s stock valued at $62,264,000 after buying an additional 509 shares during the last quarter. Vicus Capital increased its holdings in ServiceNow by 49.8% in the 1st quarter. Vicus Capital now owns 737 shares of the information technology services provider’s stock worth $587,000 after buying an additional 245 shares in the last quarter. Finally, WD Rutherford LLC raised its position in ServiceNow by 0.7% in the 1st quarter. WD Rutherford LLC now owns 5,170 shares of the information technology services provider’s stock worth $4,221,000 after buying an additional 38 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.