ServiceNow, Inc. (NYSE:NOW – Get Rating) Director Jonathan Chadwick sold 1,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $450.58, for a total transaction of $450,580.00. Following the completion of the sale, the director now directly owns 6,340 shares in the company, valued at $2,856,677.20. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink.
ServiceNow Price Performance
Shares of NYSE:NOW opened at $494.85 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $99.96 billion, a PE ratio of 543.79, a P/E/G ratio of 9.56 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $406.47 and a twelve month high of $707.60. The company has a 50-day moving average price of $466.30 and a two-hundred-day moving average price of $503.74.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current year.
Hedge Fund Weighs In On Service Now
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc bought a new position in shares of ServiceNow in the first quarter valued at approximately $996,000. Walleye Capital LLC boosted its position in shares of ServiceNow by 54.8% in the fourth quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock valued at $4,598,000 after acquiring an additional 2,507 shares during the period. Exane Derivatives boosted its position in shares of ServiceNow by 7.0% in the first quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after acquiring an additional 95 shares during the period. Resources Investment Advisors LLC. boosted its position in shares of ServiceNow by 113.6% in the first quarter. Resources Investment Advisors LLC. now owns 1,476 shares of the information technology services provider’s stock valued at $822,000 after acquiring an additional 785 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of ServiceNow by 1.6% in the first quarter. New York State Common Retirement Fund now owns 371,725 shares of the information technology services provider’s stock valued at $207,010,000 after acquiring an additional 5,941 shares during the period. Institutional investors own 87.20% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently commented on NOW. KeyCorp reduced their price objective on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Royal Bank of Canada decreased their price objective on shares of ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. Barclays decreased their price objective on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Credit Suisse Group decreased their price objective on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, Cowen cut their price target on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $601.80.
ServiceNow Company Profile
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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.
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