ServiceNow (NYSE:NOW) Insider Sells $77,745.52 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $827.08, for a total transaction of $77,745.52. Following the completion of the transaction, the insider owned 3,027 shares of the company’s stock, valued at $2,503,571.16. This represents a 3.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ServiceNow Price Performance

Shares of NOW opened at $812.40 on Friday. The firm has a market capitalization of $168.98 billion, a price-to-earnings ratio of 98.23, a PEG ratio of 4.11 and a beta of 0.94. The firm’s fifty day simple moving average is $903.22 and its 200-day simple moving average is $944.27. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Shares of ServiceNow are scheduled to split on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly issued shares will be issued to shareholders after the closing bell on Thursday, December 4th.

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

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new position in shares of ServiceNow in the 3rd quarter valued at $26,380,000. Oarsman Capital Inc. grew its position in ServiceNow by 6.9% during the 3rd quarter. Oarsman Capital Inc. now owns 591 shares of the information technology services provider’s stock worth $544,000 after purchasing an additional 38 shares during the last quarter. EMC Capital Management increased its stake in ServiceNow by 66.7% in the third quarter. EMC Capital Management now owns 250 shares of the information technology services provider’s stock valued at $230,000 after purchasing an additional 100 shares during the period. First Affirmative Financial Network raised its holdings in shares of ServiceNow by 1.7% in the third quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock valued at $821,000 after buying an additional 15 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in shares of ServiceNow by 5.1% in the third quarter. Asset Dedication LLC now owns 3,040 shares of the information technology services provider’s stock valued at $2,798,000 after buying an additional 147 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NOW shares. Morgan Stanley set a $1,315.00 target price on ServiceNow and gave the stock an “overweight” rating in a research report on Thursday, October 30th. DA Davidson set a $1,250.00 price target on shares of ServiceNow in a research note on Thursday, October 30th. Mizuho set a $1,150.00 price objective on shares of ServiceNow in a report on Thursday, October 30th. Wells Fargo & Company set a $1,275.00 price objective on shares of ServiceNow in a research report on Thursday, October 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,159.66.

About ServiceNow

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.