Russell S. Elmer Sells 1,867 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 1,867 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the completion of the transaction, the general counsel now owns 6,843 shares in the company, valued at approximately $7,007,026.71. The trade was a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ServiceNow Stock Performance

NYSE:NOW traded up $16.85 during trading hours on Tuesday, reaching $1,022.19. The company had a trading volume of 1,816,639 shares, compared to its average volume of 1,285,622. 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, Inc. has a 52 week low of $637.99 and a 52 week high of $1,061.66. The firm has a market cap of $210.57 billion, a price-to-earnings ratio of 156.35, a PEG ratio of 5.80 and a beta of 0.98. The firm’s 50 day moving average price is $935.45 and its 200-day moving average price is $827.30.

ServiceNow (NYSE:NOW) last announced 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. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. On average, analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Piper Sandler boosted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Scotiabank initiated coverage on ServiceNow in a research note on Tuesday. They set a “sector outperform” rating and a $1,230.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

Institutional Trading of ServiceNow

Large investors have recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc boosted its stake 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 valued at $27,000 after purchasing an additional 28 shares during the period. EntryPoint Capital LLC increased its holdings in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the 3rd quarter valued at $30,000. Finally, Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at $32,000. 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.