Kevin Thomas Mcbride Sells 280 Shares of ServiceNow (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Kevin Thomas Mcbride sold 280 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $851.77, for a total value of $238,495.60. Following the completion of the transaction, the insider directly owned 4,654 shares of the company’s stock, valued at approximately $3,964,137.58. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

ServiceNow Trading Up 0.5%

Shares of NOW opened at $891.2530 on Thursday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $959.60 and a 200-day simple moving average of $931.56. The stock has a market cap of $185.38 billion, a PE ratio of 112.25, a PEG ratio of 4.00 and a beta of 0.93.

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

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of ServiceNow by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after buying an additional 12,533 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at $1,820,000. Corient IA LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at $796,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of ServiceNow in the 1st quarter valued at $19,278,000. Finally, Nicholas Investment Partners LP boosted its position in shares of ServiceNow by 223.5% in the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock worth $2,974,000 after purchasing an additional 1,938 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. BMO Capital Markets raised their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 price target on ServiceNow in a report on Thursday, July 24th. Raymond James Financial raised their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.