ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 758 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $486.36, for a total transaction of $368,660.88. Following the transaction, the general counsel now owns 9,293 shares in the company, valued at $4,519,743.48. The sale was disclosed in a filing with the SEC, which is available through this link.
ServiceNow is down 2.7%
NYSE NOW opened at $476.26 on Monday. 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. The company has a market capitalization of $96.20 billion, a PE ratio of 523.36, a P/E/G ratio of 9.69 and a beta of 0.94. The company has a fifty day moving average of $467.79 and a 200 day moving average of $500.32.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. In the same quarter last year, the business posted $0.38 EPS. The company’s revenue rose 24.3% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Institutional Entry and Exit
A number of large investors have recently bought and sold shares of NOW. Chilton Capital Management LLC bought a new position in ServiceNow in the fourth 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 approximately $28,000. Tortoise Investment Management LLC increased 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 acquired a new position in ServiceNow in the 1st quarter valued at approximately $29,000. Finally, Lee Financial Co boosted its position in ServiceNow by 671.4% during the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on NOW. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $700.00 to $550.00 in a research note on Monday, May 23rd. JMP Securities cut their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. Guggenheim began coverage on ServiceNow in a research note on Friday, August 12th. They set a “neutral” rating and a $510.00 price objective for the company. Canaccord Genuity Group cut their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Finally, TheStreet lowered shares of ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.
Further Reading
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