ServiceNow, Inc. (NYSE:NOW – Get Rating) CFO Gina Mastantuono sold 4,262 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $439.10, for a total value of $1,871,444.20. Following the completion of the sale, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
ServiceNow down 0.5%
Shares of NOW stock opened at $434.62 on Thursday. The stock has a market capitalization of $87.79 billion, a price-to-earnings ratio of 477.60, a PEG ratio of 8.87 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $406.47 and a 1 year high of $707.60. The company’s fifty day simple moving average is $468.08 and its two hundred day simple moving average is $493.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating ) last released its quarterly earnings results on Wednesday, July 27. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. In the same quarter last year, the company posted $0.38 earnings per share. As a group, analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Institutional Entry and Exit
A number of institutional investors have recently added to or reduced their stakes in NOW. Chilton Capital Management LLC bought a new position in ServiceNow in the fourth quarter valued at $25,000. OLD Second National Bank of Aurora purchased a new stake in ServiceNow during the first quarter valued at approximately $28,000. Tortoise Investment Management LLC boosted its position 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 purchasing an additional 22 shares during the period. High Net Worth Advisory Group LLC bought a new stake in ServiceNow during the first quarter valued at approximately $29,000. Finally, Delos Wealth Advisors LLC purchased a new stake in ServiceNow during the fourth quarter valued at approximately $40,000. Institutional investors own 87.49% of the company’s stock.
Changes in Analyst Ratings
A number of brokerages have weighed in on NOW. Citigroup reduced their price target on ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Cowen cut their price objective on ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Guggenheim initiated coverage on ServiceNow in a report on Friday, August 12th. They set a “neutral” rating and a $510.00 target price on the stock. Credit Suisse Group cut their price target on ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Finally, Mizuho cut their price target on ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.
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