Jacqueline P. Canney Sells 66 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,096,621. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $1,035.34 on Friday. The company’s fifty day simple moving average is $858.93 and its two-hundred day simple moving average is $972.52. The firm has a market cap of $214.32 billion, a PE ratio of 151.59, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. 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, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its stake in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new position in ServiceNow during the 1st quarter valued at about $26,000. Quarry LP purchased a new position in ServiceNow during the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new position in ServiceNow during the 4th quarter valued at about $28,000. Finally, WASHINGTON TRUST Co lifted its position in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Guggenheim increased their price target on shares of ServiceNow from $716.00 to $724.00 and gave the stock a “sell” rating in a report on Thursday, April 24th. William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Finally, Royal Bank of Canada increased their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,062.50.

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.