ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 4,812 shares of the company’s stock in a transaction on Monday, August 1st. The stock was 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 transaction was disclosed in a filing with the SEC, which is available on the SEC website.
Stock ServiceNow 4.6 %
Shares of NYSE NOW opened at $493.00 on Friday. The company has a market capitalization of $99.59 billion, a PE ratio of 541.76, a price-to-earnings-growth ratio of 9.22 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. ServiceNow, Inc. has a 1 year low of $406.47 and a 1 year high of $707.60. The firm’s 50-day moving average is $465.93 and its 200-day moving average is $503.93.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. ServiceNow’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. Equities analysts expect ServiceNow, Inc. will post 1.73 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently issued reports on NOW shares. Jefferies Financial Group reduced their price objective on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. JMP Securities cut their price target on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research note on Thursday, July 28th. Cowen cut their price target on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Truist Financial cut their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, Sanford C. Bernstein initiated 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $601.80.
Institutional Trading Services Today
A number of hedge funds have recently modified their holdings of the company. Cavalier Investments LLC lifted its position in shares of ServiceNow by 0.7% in the 4th quarter. Cavalier Investments LLC now owns 2,475 shares of the information technology services provider’s stock valued at $1,607,000 after acquiring an additional 18 shares during the period. SevenOneSeven Capital Management lifted its position in shares of ServiceNow by 3.0% in the 4th quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock valued at $403,000 after acquiring an additional 18 shares during the period. Raised by Means Investment CO. Inc. its position in shares of ServiceNow by 0.6% in the 4th quarter. The Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock valued at $1,845,000 after acquiring an additional 18 shares during the period. Rehmann Capital Advisory Group raised its holdings in ServiceNow by 1.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock valued at $854,000 after buying an additional 18 shares during the period. Finally, Financial Architects Inc lifted its holdings in ServiceNow by 5.9% during the 1st quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after purchasing an additional 21 shares during the period. 87.20% of the stock is currently owned by institutional investors and hedge funds.
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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