Insider Selling: ServiceNow (NYSE:NOW) Director Sells 265 Shares of Stock

by · The Cerbat Gem

ServiceNow, Inc. (NYSE:NOW – Get Free Report) Director Lawrence Jackson sold 265 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $810.22, for a total value of $214,708.30. Following the completion of the transaction, the director directly owned 323 shares in the company, valued at approximately $261,701.06. This represents a 45.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

ServiceNow Stock Performance

NYSE:NOW traded up $2.68 during mid-day trading on Tuesday, hitting $824.75. 1,310,114 shares of the company traded hands, compared to its average volume of 1,636,367. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $884.97 and its 200-day moving average price is $933.91. The firm has a market cap of $171.55 billion, a price-to-earnings ratio of 99.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.97. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow’s stock is set to split on the morning of Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly created shares will be payable to shareholders after the market closes on Thursday, December 4th.

ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.61. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. ServiceNow had a return on equity of 19.23% and a net margin of 13.66%.The firm’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.72 EPS. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $1,120.00 price objective on shares of ServiceNow in a research note on Thursday, October 30th. Morgan Stanley set a $1,315.00 price target on ServiceNow and gave the stock an “overweight” rating in a research note on Thursday, October 30th. BMO Capital Markets decreased their price target on ServiceNow from $1,160.00 to $1,150.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Zacks Research cut ServiceNow from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, JMP Securities reissued a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,149.67.

Read Our Latest Stock Analysis on NOW

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in ServiceNow in the 2nd quarter worth about $2,589,235,000. Nuveen LLC bought a new position in shares of ServiceNow during the first quarter valued at approximately $1,817,535,000. Goldman Sachs Group Inc. raised its holdings in shares of ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares during the period. Parnassus Investments LLC bought a new stake in shares of ServiceNow during the 1st quarter worth approximately $519,806,000. Finally, Amundi boosted its holdings in ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after acquiring an additional 626,623 shares during the period. 87.18% of the stock is currently owned by institutional investors.

About ServiceNow

(Get Free Report)

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.

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