ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 758 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $486.36, for a total value of $368,660.88. Following the completion of the transaction, the general counsel now owns 9,293 shares in the company, valued at approximately $4,519,743.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
ServiceNow Stock Performance
NYSE NOW opened at $476.26 on Friday. The company has a 50-day simple moving average of $467.79 and a two-hundred-day simple moving average of $500.74. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow, Inc. has a 12-month low of $406.47 and a 12-month high of $707.60. The company has a market cap of $96.20 billion, a price-to-earnings ratio of 523.36, a PEG ratio of 9.96 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, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue rose 24.3% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on NOW. Canaccord Genuity Group dropped their price target on shares of ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Jefferies Financial Group dropped their target price on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Truist Financial dropped their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Cowen lowered their price target on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Finally, BMO Capital Markets lowered their price target on shares of ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. Two equities 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $598.84.
Institutional Trading Services Today
Institutional investors have recently modified their holdings in the company. Prospera Financial Services Inc purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $996,000. Walleye Capital LLC boosted its holdings in shares of ServiceNow by 54.8% during the fourth quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock valued at $4,598,000 after buying an additional 2,507 shares during the period. Exane Derivatives boosted its holdings in shares of ServiceNow by 7.0% during the first quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after purchasing an additional 95 shares during the period. Resources Investment Advisors LLC. boosted its holdings in shares of ServiceNow by 113.6% during the first quarter. Resources Investment Advisors LLC. now owns 1,476 shares of the information technology services provider’s stock valued at $822,000 after purchasing an additional 785 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of ServiceNow by 1.6% in the first quarter. New York State Common Retirement Fund now owns 371,725 shares of the information technology services provider’s stock valued at $207,010,000 after buying an additional 5,941 shares during the period. 87.20% of the stock is currently owned by hedge funds and other 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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