Investors Sell ServiceNow (NOW) on Strength (NOW)
Investors sold shares of ServiceNow Inc (NYSE:NOW) on strength during trading on Thursday. $155.25 million flowed into the stock on the tick-up and $188.19 million flowed out of the stock on the tick-down, for a money net flow of $32.94 million out of the stock. Of all stocks tracked, ServiceNow had the 0th highest net out-flow for the day. ServiceNow traded up $2.83 for the day and closed at $174.97
Several equities analysts have recently commented on the stock. Piper Jaffray Companies restated an “overweight” rating and issued a $210.00 target price on shares of ServiceNow in a research report on Friday, July 20th. JMP Securities boosted their target price on shares of ServiceNow to $220.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Barclays boosted their target price on shares of ServiceNow from $198.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Morgan Stanley boosted their target price on shares of ServiceNow from $172.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Finally, Bank of America upped their price objective on shares of ServiceNow from $203.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. ServiceNow has an average rating of “Buy” and an average target price of $203.04.
The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $34.81 billion, a price-to-earnings ratio of -175.67, a P/E/G ratio of 46.45 and a beta of 1.23.
In other news, Director Ronald E. F. Codd sold 39,506 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $185.88, for a total value of $7,343,375.28. Following the sale, the director now directly owns 53,428 shares of the company’s stock, valued at approximately $9,931,196.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frederic B. Luddy sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $174.56, for a total transaction of $5,673,200.00. Following the completion of the sale, the director now directly owns 282,383 shares in the company, valued at $49,292,776.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,819 shares of company stock worth $40,902,407. Insiders own 1.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Alpha Windward LLC bought a new stake in shares of ServiceNow in the 2nd quarter valued at $102,000. Chevy Chase Trust Holdings Inc. bought a new position in ServiceNow during the second quarter worth $204,000. Allianz Life Insurance Co. of North America bought a new position in ServiceNow during the second quarter worth $205,000. Northwestern Mutual Wealth Management Co. boosted its stake in ServiceNow by 33.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,228 shares of the information technology services provider’s stock worth $212,000 after acquiring an additional 305 shares in the last quarter. Finally, Three Peaks Capital Management LLC boosted its stake in ServiceNow by 85.6% during the second quarter. Three Peaks Capital Management LLC now owns 1,264 shares of the information technology services provider’s stock worth $218,000 after acquiring an additional 583 shares in the last quarter. 95.83% of the stock is currently owned by institutional investors.
ServiceNow Company Profile (NYSE:NOW)
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
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