ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 2,666 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $422.80, for a total value of $1,127,184.80. Following the sale, the general counsel now directly owns 6,627 shares in the company, valued at $2,801,895.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
ServiceNow Stock Performance
Shares of ServiceNow stock opened at $401.43 on Thursday. ServiceNow, Inc. had a one-year low of $401.39 and a one-year high of $707.60. The company has a market cap of $81.09 billion, a price-to-earnings ratio of 441.13, a PEG ratio of 8.65 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The moving business’s 50 day moving average price is $455.61 and its 200 day moving average price is $480.24.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data 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 had a return on equity of 7.22% and a net margin of 2.79%. 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 business posted $0.38 earnings per share. The company’s revenue increased by 24.3% compared to the same quarter last year. On average, research analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.
Wall Street Analysts’ Growth Forecast
A number of analysts recently commented on the company. BMO Capital Markets dropped their price target on ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. UBS Group dropped their target price on ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. KeyCorp dropped their price target on ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. JMP Securities dropped their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Finally, Sanford C. Bernstein began coverage on ServiceNow in a research 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 given a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.
Institutional Investors Are Weighing In On The Service Today
Hedge funds and other institutional investors have recently added or reduced their stakes in the business. Chilton Capital Management LLC acquired a new stake in ServiceNow during the fourth quarter valued at $25,000. OLD Second National Bank of Aurora acquired a new stake in ServiceNow during the first quarter valued at $28,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow during the first quarter valued at $29,000. Delos Wealth Advisors LLC acquired a new stake in ServiceNow during the fourth quarter valued at $40,000. Finally, Tortoise Investment Management LLC boosted its stake in 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 acquiring an additional 22 shares during the last quarter. Institutional investors and hedge funds own 87.49% 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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