Insider Selling: ServiceNow (NYSE:NOW) Insider Sells 1,400 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares in the company, valued at approximately $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ServiceNow Trading Up 3.7%

Shares of ServiceNow stock traded up $3.77 during midday trading on Friday, reaching $107.06. 22,751,711 shares of the company’s stock traded hands, compared to its average volume of 23,934,470. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $111.99 billion, a PE ratio of 64.19, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The stock has a 50 day moving average of $138.14 and a 200-day moving average of $164.82. ServiceNow, Inc. has a 12 month low of $98.00 and a 12 month high of $211.48.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of ServiceNow in a research note on Thursday, January 29th. BTIG Research reissued a “buy” rating and issued a $200.00 target price on shares of ServiceNow in a research report on Thursday, January 29th. DA Davidson restated a “buy” rating and set a $220.00 price target on shares of ServiceNow in a research report on Thursday, January 29th. The Goldman Sachs Group set a $216.00 price target on ServiceNow in a research note on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $180.00 price objective on ServiceNow in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $193.01.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently modified their holdings of the stock. Arete Wealth Advisors LLC raised its position in shares of ServiceNow by 449.9% in the 4th quarter. Arete Wealth Advisors LLC now owns 8,017 shares of the information technology services provider’s stock worth $1,228,000 after purchasing an additional 6,559 shares during the last quarter. CreativeOne Wealth LLC increased its stake in ServiceNow by 503.5% during the 4th quarter. CreativeOne Wealth LLC now owns 17,116 shares of the information technology services provider’s stock valued at $2,622,000 after purchasing an additional 14,280 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. increased its stake in ServiceNow by 400.0% during the 4th quarter. Nan Shan Life Insurance Co. Ltd. now owns 514,260 shares of the information technology services provider’s stock valued at $78,779,000 after purchasing an additional 411,408 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in ServiceNow by 423.0% in the fourth quarter. Kestra Advisory Services LLC now owns 91,943 shares of the information technology services provider’s stock worth $14,085,000 after buying an additional 74,363 shares during the last quarter. Finally, Liberty One Investment Management LLC lifted its stake in shares of ServiceNow by 136.5% in the fourth quarter. Liberty One Investment Management LLC now owns 1,095 shares of the information technology services provider’s stock worth $168,000 after buying an additional 632 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.