Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells 66 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $5.81 during trading on Thursday, hitting $1,039.74. The stock had a trading volume of 1,156,714 shares, compared to its average volume of 1,280,138. The business’s 50-day moving average is $924.67 and its 200 day moving average is $819.71. The firm has a market cap of $214.19 billion, a price-to-earnings ratio of 162.03, a P/E/G ratio of 6.02 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Institutional Investors Weigh In On ServiceNow

Large investors have recently bought and sold shares of the business. Creekmur Asset Management LLC purchased a new position in ServiceNow during the first quarter valued at approximately $25,000. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. Versant Capital Management Inc raised its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the period. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Mizuho upped their target price on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Stifel Nicolaus boosted their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

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.