ServiceNow, Inc. (NYSE:NOW – Get Rating) General Counsel Russell S. Elmer sold 2,666 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the transaction, the general counsel now directly owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
ServiceNow Stock Drops 3.6%
Shares of NOW opened at $386.97 on Friday. The company has a market capitalization of $78.17 billion, a price-to-earnings ratio of 425.24, a PEG ratio of 8.37 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $386.70 and a 52 week high of $707.60. The stock’s 50-day moving average price is $454.93 and its 200-day moving average price is $479.32. 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 (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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. 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 earnings per share. On average, sell-side analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current year.
Analysts Set New Price Targets
NOW has been the subject of several recent research reports. Mizuho reduced their price target on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Barclays reduced their price target on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Wells Fargo & Company cut their price objective on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Truist Financial reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Canaccord Genuity Group reduced their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $593.29.
Institutional Trading Services Today
Hedge funds have recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $28,000. Tortoise Investment Management LLC raised its holdings in ServiceNow by 55.0% in the 2nd 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 position in ServiceNow in the first quarter valued at approximately $29,000. Finally, Delos Wealth Advisors LLC acquired a new stake in ServiceNow in the fourth quarter valued at approximately $40,000. 87.49% of the stock is owned by hedge funds and other institutional investors.
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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