Insider Selling: ServiceNow (NYSE:NOW) General Counsel Sells 110 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell Elmer sold 110 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $846.92, for a total value of $93,161.20. Following the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,668,857.44. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

ServiceNow Trading Down 0.3%

Shares of NYSE NOW traded down $2.79 during mid-day trading on Wednesday, hitting $815.18. The company’s stock had a trading volume of 1,913,438 shares, compared to its average volume of 1,641,529. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company’s fifty day simple moving average is $908.37 and its 200-day simple moving average is $946.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $169.56 billion, a price-to-earnings ratio of 98.57, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94.

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

ServiceNow (NYSE:NOW) 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. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the firm earned $3.72 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent research reports. The Goldman Sachs Group restated a “buy” rating and issued a $1,250.00 price target on shares of ServiceNow in a research report on Thursday, October 30th. Mizuho set a $1,150.00 target price on ServiceNow in a report on Thursday, October 30th. UBS Group boosted their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Morgan Stanley set a $1,315.00 price objective on shares of ServiceNow and gave the stock an “overweight” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,159.66.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently modified their holdings of NOW. Brighton Jones LLC lifted its stake in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after buying an additional 30 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of ServiceNow by 0.8% during the first quarter. Mutual of America Capital Management LLC now owns 24,875 shares of the information technology services provider’s stock worth $19,804,000 after acquiring an additional 201 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of ServiceNow by 46.9% during the first quarter. J.W. Cole Advisors Inc. now owns 3,381 shares of the information technology services provider’s stock worth $2,692,000 after acquiring an additional 1,079 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in shares of ServiceNow by 22.8% during the first quarter. Hazlett Burt & Watson Inc. now owns 269 shares of the information technology services provider’s stock worth $214,000 after acquiring an additional 50 shares during the period. Finally, Obermeyer Wealth Partners lifted its position in ServiceNow by 75.6% in the 1st quarter. Obermeyer Wealth Partners now owns 597 shares of the information technology services provider’s stock valued at $475,000 after acquiring an additional 257 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.