Jacqueline P. Canney Sells 257 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 257 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $253,145.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,981,595. The trade was a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ServiceNow Price Performance

ServiceNow stock opened at $981.13 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $203.09 billion, a price-to-earnings ratio of 143.65, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The firm has a 50-day moving average of $844.85 and a two-hundred day moving average of $970.48. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.41 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has authorized a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. Piper Sandler dropped their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim increased their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,055.83.

Institutional Trading of ServiceNow

A number of hedge funds have recently added to or reduced their stakes in NOW. Bogart Wealth LLC raised its holdings in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in ServiceNow in the first quarter worth approximately $26,000. Quarry LP purchased a new stake in ServiceNow during the fourth quarter worth $27,000. Atala Financial Inc bought a new stake in ServiceNow during the 4th quarter valued at $28,000. Finally, WASHINGTON TRUST Co increased its holdings in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.