ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott Sells 384 Shares

ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott sold 384 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total transaction of $378,869.76. Following the completion of the transaction, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at approximately $6,525,636.96. This represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

ServiceNow Stock Down 1.1 %

Shares of NYSE NOW opened at $986.61 on Thursday. The firm has a market cap of $203.24 billion, a price-to-earnings ratio of 144.45, a price-to-earnings-growth ratio of 4.59 and a beta of 0.99. The company’s 50-day simple moving average is $1,061.97 and its 200-day simple moving average is $976.06. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NOW. Formidable Asset Management LLC acquired a new stake in ServiceNow during the 4th quarter worth $233,000. Cache Advisors LLC purchased a new position in shares of ServiceNow in the fourth quarter worth about $652,000. GF Fund Management CO. LTD. acquired a new position in ServiceNow during the fourth quarter worth about $58,865,000. Hudson Value Partners LLC grew its stake in ServiceNow by 2.8% during the 4th quarter. Hudson Value Partners LLC now owns 1,393 shares of the information technology services provider’s stock valued at $1,477,000 after acquiring an additional 38 shares in the last quarter. Finally, GTS Securities LLC raised its holdings in ServiceNow by 116.2% in the 4th quarter. GTS Securities LLC now owns 2,967 shares of the information technology services provider’s stock valued at $3,145,000 after acquiring an additional 21,271 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOW. Oppenheimer raised their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Barclays raised their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Guggenheim reissued a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research report on Wednesday, January 22nd. Finally, Evercore ISI upped their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Company Profile

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.