Paul John Smith Sells 2,404 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Paul John Smith sold 2,404 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the completion of the transaction, the insider now directly owns 6,244 shares of the company’s stock, valued at approximately $6,119,432.20. This trade represents a 27.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Paul John Smith also recently made the following trade(s):

• On Friday, February 14th, Paul John Smith sold 1,184 shares of ServiceNow stock. The shares were sold at an average price of $980.08, for a total value of $1,160,414.72.

ServiceNow Price Performance

Shares of NOW traded down $10.88 during trading hours on Wednesday, hitting $986.61. 1,736,991 shares of the company were exchanged, compared to its average volume of 1,642,553. 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 fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a market cap of $203.24 billion, a price-to-earnings ratio of 144.45, a P/E/G ratio of 4.59 and a beta of 0.99. The firm’s fifty day moving average is $1,065.18 and its 200 day moving average is $975.99.

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

ServiceNow declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Citigroup lowered their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Barclays increased their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lowered their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors LLC lifted its position in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow during the 4th quarter valued at approximately $2,603,360,000. International Assets Investment Management LLC increased its position in ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Bank of Montreal Can lifted its stake in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after buying an additional 666,383 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.