ServiceNow, Inc. (NYSE:NOW – Get Rating) Director Jonathan Chadwick sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $450.58, for a total transaction of $450,580.00. Following the sale, the director now directly owns 6,340 shares of the company’s stock, valued at $2,856,677.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available through this hyperlink.
ServiceNow Stock Performance
NYSE NOW opened at $493.00 on Friday. 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 moving average price is $465.93 and its two hundred day moving average price is $503.93. 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 $99.59 billion, a P/E ratio of 541.76, a price-to-earnings-growth ratio of 9.22 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. As a group, research analysts expect ServiceNow, Inc. will post 1.73 EPS for the current year.
Wall Street Analysts weigh in
A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of ServiceNow in a research note on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price for the company. Royal Bank of Canada dropped their price target on shares of ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. Morgan Stanley dropped 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. Mizuho reduced their price objective on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Finally, Stifel Nicolaus reduced their price objective on shares of ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $601.80.
Institutional Trading Services Today
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new stake in ServiceNow during the fourth quarter valued at $25,000. OLD Second National Bank of Aurora bought a new position in shares of ServiceNow in the first quarter valued at about $28,000. Tortoise Investment Management LLC raised its position in shares of ServiceNow by 55.0% in the second quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 22 shares during the period. High Net Worth Advisory Group LLC bought a new position in shares of ServiceNow in the first quarter valued at approximately $29,000. Finally, AHL Investment Management Inc. bought a new position in shares of ServiceNow in the fourth quarter valued at about $35,000. 87.20% of the stock is owned by institutional investors.
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.
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