ServiceNow, Inc. (NYSE:NOW) General Counsel Sells $1,010,724.00 in Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 1,023 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the completion of the transaction, the general counsel now owns 4,332 shares in the company, valued at $4,280,016. The trade was a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

ServiceNow Trading Down 1.1 %

NYSE:NOW opened at $986.61 on Thursday. The stock has a market cap of $203.24 billion, a price-to-earnings ratio of 144.45, a PEG ratio of 4.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The business has a fifty day moving average of $1,061.97 and a 200-day moving average of $976.06.

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

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

Hedge Funds Weigh In On ServiceNow

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

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. TD Cowen increased their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Scotiabank started coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.