ServiceNow, Inc. (NYSE:NOW) Insider Sells $481,635.70 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ServiceNow Price Performance

Shares of NOW traded up $14.86 during mid-day trading on Friday, hitting $1,072.02. 1,079,535 shares of the stock were exchanged, compared to its average volume of 1,172,310. The firm has a 50-day moving average of $1,068.39 and a two-hundred day moving average of $929.31. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $220.84 billion, a PE ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business earned $1.21 earnings per share. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NOW shares. Jefferies Financial Group increased their price target on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Barclays increased their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Scotiabank assumed coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Stifel Nicolaus upped their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Raymond James began coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,080.38.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in ServiceNow by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 274,844 shares of the information technology services provider’s stock valued at $216,207,000 after acquiring an additional 39,984 shares during the last quarter. Bradley Foster & Sargent Inc. CT bought a new position in ServiceNow during the 2nd quarter valued at about $256,000. Wealth Alliance lifted its stake in ServiceNow by 6.9% in the second quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock worth $747,000 after purchasing an additional 61 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in ServiceNow by 33.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 10,371 shares of the information technology services provider’s stock worth $8,159,000 after purchasing an additional 2,595 shares during the last quarter. Finally, Argent Trust Co boosted its position in shares of ServiceNow by 5.4% during the second quarter. Argent Trust Co now owns 3,315 shares of the information technology services provider’s stock valued at $2,608,000 after buying an additional 170 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.