ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 2,666 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the transaction, the general counsel now directly owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, available through this hyperlink.
ServiceNow is down 3.3%
NOW stock traded down $13.85 during trading on Tuesday, reaching $411.20. 1,645,360 shares of the stock were exchanged, compared to its average volume of 1,727,301. 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 business has a 50-day moving average price of $456.37 and a 200-day moving average price of $481.28. ServiceNow, Inc. has a 1 year low of $406.47 and a 1 year high of $707.60. The company has a market capitalization of $83.06 billion, a price-to-earnings ratio of 451.87, a P/E/G ratio of 8.67 and a beta of 0.94.
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 analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $0.38 earnings per share. ServiceNow’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, research analysts predict that ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Hedge Fund Weighs In On Service Now
A number of institutional investors have recently bought and sold shares of NOW. Chilton Capital Management LLC acquired a new position in ServiceNow during the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora acquired a new position in ServiceNow during the 1st quarter valued at about $28,000. Tortoise Investment Management LLC boosted its holdings in 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 acquiring an additional 22 shares during the last quarter. High Net Worth Advisory Group LLC acquired a new position in ServiceNow during the 1st quarter valued at approximately $29,000. Finally, Delos Wealth Advisors LLC acquired a new position in ServiceNow during the 4th quarter valued at approximately $40,000. 87.49% of the stock is owned by hedge funds and other institutional investors.
Changes in Analyst Ratings
Several research analysts recently issued reports on NOW shares. 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 report on Thursday, July 28th. UBS Group dropped their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Royal Bank of Canada dropped their price target on shares of ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Sanford C. Bernstein began coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price on the stock. Finally, Barclays lowered their price target on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $598.84.
About ServiceNow
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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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