ServiceNow, Inc. (NYSE:NOW – Get Rating) insider Jacqueline P. Canney sold 999 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $451.69, for a total transaction of $451,238.31. Following the sale, the insider now owns 728 shares in the company, valued at approximately $328,830.32. The transaction was disclosed in a document filed with the SEC, available at this link.
ServiceNow Stock Up 3.7 %
Shares of NYSE NOW opened at $471.45 on Thursday. The stock has a market capitalization of $95.23 billion, a P/E ratio of 518.08, a P/E/G ratio of 9.22 and a beta of 0.94. The company has a 50-day moving average price of $465.17 and a 200-day moving average price of $504.20. ServiceNow, Inc. has a 1 year low of $406.47 and a 1 year high of $707.60. 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 data 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 analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. Business revenue increased 24.3% on a year-over-year basis. 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 fiscal year.
Institutional Entry and Exit
A number of hedge funds have recently made changes to their business positions. Prospera Financial Services Inc purchased a new position in shares of ServiceNow during the first quarter valued at approximately $996,000. Walleye Capital LLC lifted its position 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 last quarter. Exane Derivatives lifted its position 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 buying an additional 95 shares in the last quarter. Resources Investment Advisors LLC. lifted its position 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 buying an additional 785 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position 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 purchasing an additional 5,941 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts weigh in
Several equities analysts recently commented on the stock. Citigroup dropped their price objective on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Stifel Nicolaus dropped their price objective on shares of ServiceNow from $550.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, July 28th. Piper Sandler dropped their price objective 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. Canaccord Genuity Group reissued a “hold” rating on shares of ServiceNow in a research note on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ServiceNow from $680.00 to $625.00 and set a “hold” rating for the company in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $589.90.
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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