ServiceNow, Inc. (NYSE:NOW – Get Free Report) insider Paul John Smith sold 1,184 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $980.08, for a total value of $1,160,414.72. Following the completion of the transaction, the insider now owns 4,204 shares in the company, valued at approximately $4,120,256.32. This represents a 21.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Paul John Smith also recently made the following trade(s):
- On Tuesday, February 18th, Paul John Smith sold 2,404 shares of ServiceNow stock. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20.
ServiceNow Stock Performance
NYSE:NOW opened at $937.79 on Friday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The business’s fifty day moving average is $1,054.69 and its 200 day moving average is $977.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $193.18 billion, a price-to-earnings ratio of 137.30, a PEG ratio of 4.60 and a beta of 0.99.
ServiceNow declared that its board has authorized a stock repurchase program 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
Institutional Investors Weigh In On ServiceNow
A number of institutional investors and hedge funds have recently made changes to their positions in NOW. Quarry LP purchased a new stake in shares of ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new stake in ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow in the 4th quarter worth $32,000. Noble Wealth Management PBC purchased a new stake in shares of ServiceNow during the 4th quarter valued at $34,000. Finally, Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Analysts Set New Price Targets
NOW has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. The Goldman Sachs Group raised their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Oppenheimer lifted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Robert W. Baird lowered their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.
Read Our Latest Research Report on NOW
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.
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