ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 178 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $502.00, for a total transaction of $89,356.00. Following the completion of the transaction, the general counsel now owns 9,293 shares of the company’s stock, valued at $4,665,086. The sale was disclosed in a legal filing with the SEC, available at this link.
ServiceNow Stock Performance
NOW opened at $488.76 on Thursday. 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 $467.78 and its two hundred day moving average price is $502.73. ServiceNow, Inc. has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a market cap of $98.73 billion, a price-to-earnings ratio of 537.10, a PEG ratio of 10.08 and a beta of 0.94.
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, 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 the consensus estimate of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. Business revenue increased 24.3% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 1.73 EPS for the current fiscal year.
Institutional Entry and Exit
Several institutional investors have recently bought and sold shares of NOW. Raised by Vanguard Group Inc. its stake in shares of ServiceNow by 1.9% in the 1st quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after acquiring an additional 306,106 shares during the last quarter. Raised by BlackRock Inc. its stake in shares of ServiceNow by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $10,509,544,000 after acquiring an additional 65,623 shares in the last quarter. State Street Corp grew its stake in shares of ServiceNow by 3.2% in the 4th quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock valued at $5,108,603,000 after acquiring an additional 241,296 shares during the last quarter. Polen Capital Management LLC grew its stake in shares of ServiceNow by 2.1% in the 1st quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after acquiring an additional 67,385 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of ServiceNow by 18.1% in the 1st quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after acquiring an additional 491,835 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
Wall Street Analysts’ Growth Forecast
NOW has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. Royal Bank of Canada reduced their price target on shares of ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Mizuho reduced their price target on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Jefferies Financial Group reduced their target price on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Finally, Sanford C. Bernstein initiated coverage on shares of ServiceNow in a report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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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