Frederic B. Luddy Sells 100,000 Shares of ServiceNow, Inc. (NOW) Stock
ServiceNow, Inc. (NYSE:NOW) Director Frederic B. Luddy sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $120.51, for a total value of $12,051,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of ServiceNow, Inc. (NYSE:NOW) opened at 122.29 on Friday. The company’s market capitalization is $20.88 billion. The company’s 50-day moving average price is $116.60 and its 200-day moving average price is $105.21. ServiceNow, Inc. has a one year low of $72.80 and a one year high of $123.13.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. During the same period last year, the business posted $0.15 EPS. The company’s revenue was up 38.2% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow, Inc. will post $1.17 earnings per share for the current year.
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NOW has been the subject of a number of research reports. Zacks Investment Research raised ServiceNow from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub raised ServiceNow from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Morgan Stanley reissued an “overweight” rating and issued a $134.00 price objective (up previously from $124.00) on shares of ServiceNow in a research note on Thursday, July 20th. Moffett Nathanson initiated coverage on ServiceNow in a research note on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, Citigroup Inc. reissued a “buy” rating and issued a $135.00 price objective (up previously from $109.00) on shares of ServiceNow in a research note on Saturday, July 22nd. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and a consensus target price of $118.56.
Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of ServiceNow by 3.1% in the 2nd quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock worth $64,300,000 after buying an additional 18,200 shares during the last quarter. Allen Investment Management LLC purchased a new position in shares of ServiceNow in the 2nd quarter worth $45,372,000. Utah Retirement Systems boosted its stake in shares of ServiceNow by 6.3% in the 2nd quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock worth $3,243,000 after buying an additional 1,800 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of ServiceNow by 29.0% in the 1st quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock worth $61,138,000 after buying an additional 157,079 shares during the last quarter. Finally, Vista Equity Partners Management LLC boosted its stake in shares of ServiceNow by 27.4% in the 1st quarter. Vista Equity Partners Management LLC now owns 68,743 shares of the information technology services provider’s stock worth $6,013,000 after buying an additional 14,772 shares during the last quarter.
ServiceNow Company Profile
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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