ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 191 Shares

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 191 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $188,135.00. Following the completion of the transaction, the general counsel now owns 4,332 shares of the company’s stock, valued at approximately $4,267,020. This trade represents a 4.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ServiceNow Price Performance

ServiceNow stock opened at $981.13 on Friday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The firm has a market cap of $203.09 billion, a P/E ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The business’s fifty day moving average is $844.85 and its two-hundred day moving average is $970.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the company posted $3.41 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts forecast 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 repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NOW. Headlands Technologies LLC bought a new stake in shares of ServiceNow during the first quarter worth $1,966,000. Waycross Partners LLC acquired a new stake in ServiceNow in the first quarter worth about $14,226,000. Ontario Teachers Pension Plan Board raised its holdings in ServiceNow by 27.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 690 shares of the information technology services provider’s stock worth $549,000 after purchasing an additional 147 shares during the last quarter. Deutsche Bank AG lifted its position in ServiceNow by 24.0% during the 1st quarter. Deutsche Bank AG now owns 1,522,141 shares of the information technology services provider’s stock valued at $1,211,837,000 after purchasing an additional 295,080 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of ServiceNow by 10.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 826 shares of the information technology services provider’s stock valued at $658,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Erste Group Bank upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. Mizuho decreased their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Sanford C. Bernstein restated an “outperform” rating and set a $1,003.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Truist Financial upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and increased their price objective for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,055.83.

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.