Jacqueline Canney Sells 94 Shares of ServiceNow (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline Canney sold 94 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $827.08, for a total transaction of $77,745.52. Following the completion of the sale, the insider directly owned 3,027 shares of the company’s stock, valued at $2,503,571.16. The trade was a 3.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

ServiceNow Trading Down 0.3%

Shares of NYSE NOW traded down $2.79 during midday trading on Wednesday, reaching $815.18. 1,913,438 shares of the stock were exchanged, compared to its average volume of 1,641,529. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The business has a 50-day simple moving average of $908.37 and a two-hundred day simple moving average of $946.44. The company has a market capitalization of $169.56 billion, a price-to-earnings ratio of 98.57, a P/E/G ratio of 4.11 and a beta of 0.94.

ServiceNow’s stock is scheduled to split on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly issued shares will be distributed to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.61. ServiceNow had a return on equity of 19.23% and a net margin of 13.66%.The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company posted $3.72 earnings per share. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOW. UBS Group boosted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a report on Monday, October 27th. Piper Sandler restated an “overweight” rating and set a $1,150.00 price objective on shares of ServiceNow in a report on Thursday, October 30th. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Barclays increased their target price on ServiceNow from $1,210.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,159.66.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NOW. Wealth Preservation Advisors LLC purchased a new position in shares of ServiceNow during the first quarter worth about $382,000. Corient IA LLC bought a new stake in ServiceNow during the first quarter valued at approximately $796,000. Goldman Sachs Group Inc. grew its stake in ServiceNow by 131.4% in the 1st 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 in the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of ServiceNow in the 1st quarter worth $19,278,000. Finally, Cascade Investment Group Inc. increased its holdings in shares of ServiceNow by 12.8% in the 1st quarter. Cascade Investment Group Inc. now owns 451 shares of the information technology services provider’s stock worth $359,000 after buying an additional 51 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

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.