ServiceNow, Inc. (NYSE:NOW – Get Rating) hit a new 52-week low during trading on Wednesday following insider selling activity. The company traded as low as $405.00 and last traded at $415.58, with a volume of 69544 shares. The stock previously closed at $411.20.
Specifically, insider Lara Caimi sold 977 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $514.96, for a total transaction of $503,115.92. Following the completion of the transaction, the insider now owns 43 shares in the company, valued at approximately $22,143.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, available through this link. In related news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. Also, insider Lara Caimi sold 977 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total amount of $503,115.92. Following the sale, the insider now directly owns 43 shares of the company’s stock, valued at $22,143.28. The disclosure for this sale can be found here. Insiders have sold 32,922 shares of company stock valued at $15,146,557 over the last 90 days. 0.28% of the stock is owned by company insiders.
Wall Street Analysts’ Growth Forecast
Several research firms recently commented on NOW. JMP Securities dropped their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research note on Thursday, July 28th. Credit Suisse Group reduced their price target on ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Royal Bank of Canada cut their price target on ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Guggenheim began coverage on ServiceNow in a research report on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price on the stock. Finally, Cowen reduced their price target on ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $598.84.
ServiceNow was down 2.4%
The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $81.09 billion, a P/E ratio of 441.13, a PEG ratio of 8.65 and a beta of 0.94. The firm has a 50-day moving average of $456.04 and a 200-day moving average of $480.79.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 24.3% on a year-over-year basis. On average, equities research analysts predict that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Institutional Investors Are Weighing In On The Service Today
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chilton Capital Management LLC purchased a new stake in ServiceNow during the fourth quarter valued at $25,000. OLD Second National Bank of Aurora acquired a new position in shares of ServiceNow during the first quarter valued at $28,000. Tortoise Investment Management LLC increased its holdings in shares of 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 buying an additional 22 shares in the last quarter. High Net Worth Advisory Group LLC acquired a new position in shares of ServiceNow in the first quarter valued at $29,000. Finally, Delos Wealth Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at $40,000. 87.49% of the stock is currently owned by 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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