Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells 67 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 67 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $860.57, for a total transaction of $57,658.19. Following the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at approximately $2,604,945.39. This trade represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

ServiceNow Price Performance

Shares of NYSE NOW opened at $866.89 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a market capitalization of $180.31 billion, a price-to-earnings ratio of 109.18, a PEG ratio of 3.91 and a beta of 0.93. The firm has a 50-day moving average of $967.03 and a two-hundred day moving average of $933.60.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the firm earned $3.13 earnings per share. The business’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Institutional Trading of ServiceNow

A number of hedge funds have recently bought and sold shares of the company. Parr Mcknight Wealth Management Group LLC lifted its stake in ServiceNow by 5.5% during the second quarter. Parr Mcknight Wealth Management Group LLC now owns 2,411 shares of the information technology services provider’s stock valued at $2,479,000 after buying an additional 125 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in ServiceNow by 5.4% during the second quarter. Evergreen Capital Management LLC now owns 1,535 shares of the information technology services provider’s stock valued at $1,578,000 after buying an additional 78 shares in the last quarter. Headlands Technologies LLC lifted its stake in ServiceNow by 54.6% during the second quarter. Headlands Technologies LLC now owns 3,818 shares of the information technology services provider’s stock valued at $3,925,000 after buying an additional 1,348 shares in the last quarter. MayTech Global Investments LLC lifted its stake in ServiceNow by 5.0% during the second quarter. MayTech Global Investments LLC now owns 51,403 shares of the information technology services provider’s stock valued at $52,028,000 after buying an additional 2,455 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in ServiceNow by 9.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 214,652 shares of the information technology services provider’s stock valued at $220,787,000 after buying an additional 18,347 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Canaccord Genuity Group lowered their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. DA Davidson upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus upped their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,115.20.

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.