ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 758 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $486.36, for a total transaction of $368,660.88. Following the transaction, the general counsel now directly owns 9,293 shares of the company’s stock, valued at approximately $4,519,743.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link.
ServiceNow is down 2.7%
Shares of ServiceNow stock opened at $476.26 on Friday. The company’s fifty-day simple moving average is $467.79 and its 200-day simple moving average is $500.74. The stock has a market capitalization of $96.20 billion, a PE ratio of 523.36, a P/E/G ratio of 9.96 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue increased by 24.3% compared to the same quarter last year. In the same quarter last year, the company posted $0.38 EPS. As a group, equities analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Institutional Entry and Exit
Several institutional investors and hedge funds have recently modified their holdings of NOW. Chilton Capital Management LLC bought a new position in shares of ServiceNow during the 4th quarter valued at $25,000. OLD Second National Bank of Aurora purchased a new position in shares of ServiceNow during the 1st quarter valued at $28,000. Tortoise Investment Management LLC lifted its stake in shares of ServiceNow by 55.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 22 shares in the last quarter. High Net Worth Advisory Group LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at $29,000. Finally, Lee Financial Co lifted its stake in shares of ServiceNow by 671.4% during the 4th quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
Wall Street Analysts weigh in
A number of brokerages have weighed in on NOW. Truist Financial reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note 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. Morgan Stanley reduced their price target on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Credit Suisse Group reduced their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Finally, Canaccord Genuity Group reduced their price target on shares of ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.
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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