ServiceNow, Inc. (NYSE:NOW – Get Rating) hit a new 52-week low in mid-day trading on Wednesday following insider selling activity. The stock traded as low as $405.00 and last traded at $415.58, with a volume of 69544 shares traded. The stock previously closed at $411.20.
Specifically, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the completion of the transaction, the chief financial officer now owns 4,262 shares in the company, valued at approximately $1,871,444.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link. In other news, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the completion of the transaction, the chief financial officer now owns 4,262 shares in the company, valued at approximately $1,871,444.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the transaction, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,922 shares of company stock valued at $15,146,557. 0.28% of the stock is currently owned by company insiders.
Changes in Analyst Ratings
Several equities research analysts recently weighed in on NOW shares. Barclays reduced their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” 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 for the company in a research note on Thursday, July 28th. UBS Group reduced their price target on ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. JMP Securities cut their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Finally, BMO Capital Markets cut their price target on ServiceNow from $595.00 to $520.00 in a research report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $593.29.
ServiceNow Stock Performance
The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $78.17 billion, a PE ratio of 425.24, a P/E/G ratio of 8.37 and a beta of 0.94. The stock has a 50-day moving average of $454.93 and a two-hundred-day moving average of $479.32.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results 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. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
Institutional Trading Services Today
Institutional investors have recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in ServiceNow during 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 $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 buying an additional 22 shares in the last quarter. High Net Worth Advisory Group LLC bought a new stake in ServiceNow in the first quarter valued at $29,000. Finally, Delos Wealth Advisors LLC purchased a new stake in ServiceNow during the fourth quarter valued at $40,000. 87.49% of the stock is currently owned by hedge funds and other institutional investors.
About ServiceNow
(Get Rating)
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.
Read more
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.