ServiceNow (NYSE:NOW) General Counsel Sells $93,161.20 in Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell Elmer sold 110 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $846.92, for a total value of $93,161.20. Following the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,668,857.44. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ServiceNow Stock Up 1.5%

Shares of NYSE:NOW opened at $812.40 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a market capitalization of $168.98 billion, a PE ratio of 98.23, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94. The business has a fifty day moving average price of $903.22 and a two-hundred day moving average price of $944.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow’s stock is going to split on the morning of Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly minted shares will be payable to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, topping the consensus estimate of $4.21 by $0.61. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the firm posted $3.72 earnings per share. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently modified their holdings of the company. Kilter Group LLC purchased a new stake in ServiceNow in the 2nd quarter worth approximately $25,000. IAG Wealth Partners LLC increased its holdings in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares during the period. Bogart Wealth LLC raised its position in shares of ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after buying an additional 15 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow in the third quarter worth $29,000. Finally, Global X Japan Co. Ltd. bought a new stake in ServiceNow during the second quarter valued at $30,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. TD Cowen increased their price objective on ServiceNow from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,250.00 price target on shares of ServiceNow in a research note on Thursday, October 30th. Cowen restated a “buy” rating on shares of ServiceNow in a research note on Friday, October 24th. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $1,020.00 to $1,075.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,159.66.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.