ServiceNow (NYSE:NOW) Insider Paul Fipps Sells 305 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Paul Fipps sold 305 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $817.55, for a total transaction of $249,352.75. Following the completion of the sale, the insider directly owned 541 shares in the company, valued at approximately $442,294.55. This trade represents a 36.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ServiceNow Trading Up 1.4%

Shares of NYSE:NOW opened at $827.60 on Thursday. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company’s 50 day moving average is $908.37 and its two-hundred day moving average is $946.44. The company has a market cap of $172.14 billion, a PE ratio of 100.07, a P/E/G ratio of 4.11 and a beta of 0.94. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Shares of ServiceNow are going 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 market closes on Thursday, December 4th.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, beating 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 quarter in the prior year, the company posted $3.72 earnings per share. ServiceNow’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Preservation Advisors LLC purchased a new position in shares of ServiceNow during the 1st quarter worth $382,000. Corient IA LLC acquired a new position in ServiceNow during the first quarter worth approximately $796,000. Goldman Sachs Group Inc. boosted its holdings in shares of 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 valued at $1,178,706,000 after purchasing an additional 840,731 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in ServiceNow in the first quarter valued at $19,278,000. Finally, Cascade Investment Group Inc. increased its stake in ServiceNow by 12.8% during the first quarter. Cascade Investment Group Inc. now owns 451 shares of the information technology services provider’s stock worth $359,000 after acquiring an additional 51 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $1,250.00 target price on shares of ServiceNow in a research report on Thursday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,200.00 price objective on shares of ServiceNow in a report on Monday, October 27th. Oppenheimer restated an “outperform” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Cowen reaffirmed a “buy” rating on shares of ServiceNow in a research report on Friday, October 24th. Finally, Jefferies Financial Group boosted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,159.66.

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.