Russell Elmer Sells 81 Shares of ServiceNow (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell Elmer sold 81 shares of ServiceNow stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $827.08, for a total value of $66,993.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,582,910.56. This represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ServiceNow Stock Down 1.9%

NOW stock opened at $800.67 on Friday. The firm has a 50-day moving average price of $905.58 and a 200-day moving average price of $945.42. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $166.54 billion, a P/E ratio of 96.82, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94.

ServiceNow’s stock is set to split before the market opens on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly minted shares will be payable to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the company earned $3.72 EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently made changes to their positions in the stock. Kilter Group LLC acquired a new stake in ServiceNow during the 2nd quarter valued at approximately $25,000. IAG Wealth Partners LLC boosted its stake in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the last quarter. Bogart Wealth LLC boosted its stake in shares of ServiceNow by 93.8% in the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 15 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow during the third quarter worth $29,000. Finally, Global X Japan Co. Ltd. bought a new position in ServiceNow during the second quarter worth $30,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Raymond James Financial upped their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,200.00 price target on shares of ServiceNow in a research note on Monday, October 27th. Morgan Stanley set a $1,315.00 price target on ServiceNow and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Zacks Research downgraded ServiceNow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.