ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 4,812 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the sale, the general counsel now directly owns 9,293 shares of the company’s stock, valued at $4,079,534.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
ServiceNow Trading rose 0.4%
Shares of NOW opened at $494.85 on Friday. ServiceNow, Inc. has a twelve month low of $406.47 and a twelve month high of $707.60. The company has a market cap of $99.96 billion, a P/E ratio of 543.79, a P/E/G ratio of 9.56 and a beta of 0.94. 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 company’s fifty-day simple moving average is $466.30 and its 200-day simple moving average is $503.74.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. Business revenue for the quarter was up 24.3% on a year-over-year basis. As a group, analysts expect ServiceNow, Inc. to post of 1.73 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have commented on NOW shares. Wells Fargo & Company reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Mizuho dropped their price target on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Oppenheimer dropped their price target on shares of ServiceNow from $660.00 to $600.00 in a research report on Thursday, April 28th. Jefferies Financial Group dropped their target price on shares of ServiceNow from $700.00 to $550.00 in a research report on Monday, May 23rd. Finally, KeyCorp lowered their price target on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $601.80.
Institutional Investors Weigh In On The Service Now
Hedge funds and other institutional investors have recently made changes to their positions in the company. Chilton Capital Management LLC bought a new position in ServiceNow in the 4th quarter valued at about $25,000. OLD Second National Bank of Aurora bought a new position in ServiceNow in the 1st quarter valued at about $28,000. High Net Worth Advisory Group LLC bought a new position in ServiceNow in the 1st quarter valued at approximately $29,000. AHL Investment Management Inc. bought a new position in ServiceNow in the 4th quarter valued at approximately $35,000. Finally, Lee Financial Co increased its stake in ServiceNow by 671.4% in the 4th 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 during the period. Hedge funds and other institutional investors own 87.20% of the company’s stock.
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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