ServiceNow, Inc. (NYSE:NOW – Get Rating) Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $465.86, for a total transaction of $3,074,676.00. Following the completion of the sale, the director now directly owns 33,000 shares of the company’s stock, valued at approximately $15,373,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, available through this hyperlink.
Frederic B. Luddy also recently made the following trade(s):
- On Wednesday, June 8th, Frederic B. Luddy sold 707 shares of ServiceNow stock. The stock was sold at an average price of $501.92, for a total transaction of $354,857.44.
ServiceNow Price Performance
Shares of NOW opened at $494.85 on Friday. The company has a market capitalization of $99.96 billion, a PE ratio of 543.79, a price-to-earnings-growth ratio of 10.00 and a beta of 0.94. 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, Inc. has a 1-year low of $406.47 and a 1-year high of $707.60. The company’s fifty-day moving average price is $466.30 and its 200-day moving average price is $503.62.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data 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 company had revenue of $1.75 billion for 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 business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 1.73 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have issued reports on NOW. Cowen decreased their price objective on shares of ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. Wells Fargo & Company reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. KeyCorp reduced their price target on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Piper Sandler reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Finally, Jefferies Financial Group decreased their target price on shares of ServiceNow from $700.00 to $550.00 in a research note on Monday, May 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $601.80.
Institutional Investors Weigh In On The Service Now
Large investors have recently made changes to their positions in the stock. Prospera Financial Services Inc acquired a new position in ServiceNow during the first quarter valued at $996,000. Walleye Capital LLC lifted its position in 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 purchasing an additional 2,507 shares during the period. Exane Derivatives lifted its position in 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. lifted its position in 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 buying an additional 785 shares during the period. Finally, New York State Common Retirement Fund lifted its position in ServiceNow by 1.6% during 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 purchasing an additional 5,941 shares during the period. 87.20% of the stock is owned by hedge funds and other institutional investors.
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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