ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the sale, the general counsel now owns 9,293 shares in the company, valued at $4,079,534.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Stock ServiceNow 4.6 %
Shares of NYSE NOW opened at $493.00 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market cap of $99.59 billion, a price-to-earnings ratio of 541.76, a PEG ratio of 9.22 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $406.47 and a 12 month high of $707.60. The stock has a 50-day moving average price of $465.93 and a two-hundred-day moving average price of $503.93.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The firm had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. In the same quarter last year, the company earned $0.38 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 1.73 earnings per share for the current fiscal year.
Wall Street Analysts weigh in
A number of research firms have recently issued reports on NOW. Truist Financial dropped their price objective on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. JMP Securities dropped their price objective on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. Royal Bank of Canada reduced their price target on shares of ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. Finally, TheStreet cut shares of ServiceNow from a “b-” rating to a “c+” rating in a research note on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $601.80.
Institutional Entry and Exit
Several institutional investors have recently bought and sold shares of the business. Glassman Wealth Services lifted its stake in ServiceNow by 39.8% in the second quarter. Glassman Wealth Services now owns 267 shares of the information technology services provider’s stock valued at $127,000 after acquiring an additional 76 shares in the last quarter. Nvwm LLC boosted its holdings in shares of ServiceNow by 4.7% during the second quarter. Nvwm LLC now owns 1,596 shares of the information technology services provider’s stock valued at $759,000 after buying an additional 72 shares during the last quarter. Raised by Altfest LJ & Co. Inc. its holdings in shares of ServiceNow by 53.3% during the second quarter. Altfest LJ & Co. Inc. now owns 2,887 shares of the information technology services provider’s stock valued at $1,373,000 after buying an additional 1,004 shares during the last quarter. Concord Wealth Partners boosted its holdings in shares of ServiceNow by 1,050.0% during the second quarter. Concord Wealth Partners now owns 345 shares of the information technology services provider’s stock valued at $164,000 after buying an additional 315 shares during the last quarter. Finally, Heritage Wealth Advisors boosted its holdings in shares of ServiceNow by 1,778.9% during the second quarter. Heritage Wealth Advisors now owns 357 shares of the information technology services provider’s stock valued at $170,000 after purchasing an additional 338 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
About ServiceNow
(Get Rating)
ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
Further Reading
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.
.