Insider Selling: ServiceNow (NYSE:NOW) General Counsel Sells 62 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell Elmer sold 62 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $852.38, for a total value of $52,847.56. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,692,510.16. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ServiceNow Stock Down 0.0%

ServiceNow stock traded down $0.31 during midday trading on Friday, reaching $849.38. The company’s stock had a trading volume of 1,182,900 shares, compared to its average volume of 1,643,093. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $176.67 billion, a P/E ratio of 102.71, a PEG ratio of 4.11 and a beta of 0.94. The stock’s 50-day simple moving average is $916.25 and its 200-day simple moving average is $949.95. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow’s stock is set to split before the market opens on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly issued shares will be payable to shareholders after the market closes on Thursday, December 4th.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. ServiceNow’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the business earned $3.72 EPS. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Hedge Funds Weigh In On ServiceNow

A number of large investors have recently bought and sold shares of NOW. Vanguard Group Inc. raised its stake in ServiceNow by 1.6% during the third quarter. Vanguard Group Inc. now owns 20,210,924 shares of the information technology services provider’s stock worth $18,599,709,000 after purchasing an additional 315,861 shares during the period. State Street Corp raised its position in ServiceNow by 1.7% in the second quarter. State Street Corp now owns 9,323,619 shares of the information technology services provider’s stock valued at $9,585,426,000 after purchasing an additional 154,307 shares during the period. Geode Capital Management LLC grew its holdings in shares of ServiceNow by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 4,574,563 shares of the information technology services provider’s stock worth $4,684,445,000 after purchasing an additional 88,057 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ServiceNow by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after buying an additional 188,292 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of ServiceNow in the 2nd quarter worth approximately $2,589,235,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. Guggenheim restated a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $1,150.00 price objective on shares of ServiceNow in a report on Thursday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday, August 4th. Sanford C. Bernstein restated an “outperform” rating and set a $1,093.00 target price on shares of ServiceNow in a research report on Thursday, October 30th. Finally, Mizuho set a $1,150.00 price target on shares of ServiceNow in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,159.66.

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.