ServiceNow, Inc. (NYSE: NOW-Get Rating) COO Chirantan Jitendra Desai sold 7,000 shares of business stock in a transaction on Friday, May 27th. The stock was sold at an average price of $ 477.52, for a total value of $ 3,342,640.00. Following the transaction, the chief operating officer now owns 38,980 shares in the company, valued at $ 18,613,729.60. The sale was disclosed in a legal filing with the SEC, available through this hyperlink.
The NYSE NOW traded $ 7.66 during trading hours on Wednesday, reaching $ 475.13. The company’s stock has a trading volume of 1,669,454 shares, compared to its average volume of 1,842,875. The company has a market capitalization of $ 95.24 billion, a price-to-earnings ratio of 431.87, a P/E/G ratio of 9.65 and a beta of 1.09. 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 0.37, current ratio of 1.12 and quick ratio of 1.12. The company’s 50-day moving average is $ 491.25 and its two-hundred-day moving average is $ 556.60.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 revenue per share for the quarter, topping analysts ’consensus estimates of $ 0.34 of $ 0.13. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. In the same quarter last year, the company posted $ 0.50 EPS. ServiceNow’s quarterly revenue rose 26.6% compared to the same quarter last year. Equities analysts predicted that ServiceNow, Inc. will post 1.73 EPS for the current financial year.
Several institutional investors have recently made changes to their business positions. Gradient Investments LLC raised its holdings in shares of ServiceNow by 6.0% in the first quarter. Gradient Investments LLC now owns 27,081 shares of the information technology services provider’s stock worth $ 15,081,000 after acquiring an additional 1,532 shares last quarter. EverSource Wealth Advisors LLC raised its holdings in ServiceNow shares by 85.0% in the first quarter. EverSource Wealth Advisors LLC now owns 148 shares of the information technology services provider’s stock worth $ 83,000 after acquiring an additional 68 shares in the last quarter. LM Kohn & Company acquired a new position in shares of ServiceNow in the first quarter valued at approximately $ 724,000. M Holdings Securities Inc. acquired a new position in shares of ServiceNow in the first quarter worth approximately $ 372,000. Finally, Advisory Services Network LLC raised its holdings in ServiceNow shares by 68.2% in the first quarter. Advisory Services Network LLC now owns 10,318 shares of the information technology services provider’s stock worth $ 5,746,000 after acquiring an additional 4,182 shares last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.
NOW has been the subject of several research analyst reports. Exane BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. TheStreet downgraded ServiceNow from a “b-” rating to a “c+” rating in a research note on Tuesday, April 26th. KeyCorp lowered their target price on ServiceNow from $ 692.00 to $ 613.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. Morgan Stanley lowered their target price on ServiceNow to $ 594.00 and set an “already” rating on the stock in a research note on Wednesday, May 18th. Finally, Stifel Nicolaus lowered their target price on ServiceNow from $ 650.00 to $ 550.00 in a research note on Wednesday, May 25th. Two investment analysts rated the stock with a sell rating, three issued a hold rating and twenty-seven gave a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average “Buy” rating and a consensus target price of $ 638.59.
About ServiceNow (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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