Insider Selling: ServiceNow (NYSE:NOW) General Counsel Sells 81 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell Elmer sold 81 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $827.08, for a total transaction of $66,993.48. Following the completion of the sale, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,582,910.56. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

ServiceNow Price Performance

NYSE:NOW traded down $2.79 during mid-day trading on Wednesday, hitting $815.18. 1,913,438 shares of the stock traded hands, compared to its average volume of 1,641,529. The business’s 50-day moving average price is $908.37 and its 200 day moving average price is $946.44. The company has a market cap of $169.56 billion, a PE ratio of 98.57, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Shares of ServiceNow are scheduled to split before the market opens on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly minted shares will be issued to shareholders after the closing bell on Thursday, December 4th.

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

Hedge Funds Weigh In On ServiceNow

Several institutional investors have recently modified their holdings of NOW. Center For Asset Management LLC lifted its position in ServiceNow by 10.5% in the 3rd quarter. Center For Asset Management LLC now owns 306 shares of the information technology services provider’s stock worth $282,000 after buying an additional 29 shares during the last quarter. Captrust Financial Advisors grew its position in ServiceNow by 2.2% during the third quarter. Captrust Financial Advisors now owns 34,524 shares of the information technology services provider’s stock valued at $31,772,000 after acquiring an additional 754 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of ServiceNow by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 6,165 shares of the information technology services provider’s stock worth $5,674,000 after acquiring an additional 312 shares in the last quarter. Aspire Private Capital LLC lifted its holdings in shares of ServiceNow by 9.1% in the 3rd quarter. Aspire Private Capital LLC now owns 1,328 shares of the information technology services provider’s stock worth $1,222,000 after acquiring an additional 111 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of ServiceNow in the 3rd quarter valued at $21,875,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NOW shares. Piper Sandler reissued an “overweight” rating and set a $1,150.00 price objective on shares of ServiceNow in a research note on Thursday, October 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $1,200.00 price target on shares of ServiceNow in a report on Thursday, October 30th. Wells Fargo & Company set a $1,275.00 price target on ServiceNow in a research report on Thursday, October 30th. Citigroup boosted their price objective on ServiceNow from $1,234.00 to $1,253.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, TD Cowen raised their target price on shares of ServiceNow from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,159.66.

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.