ServiceNow, Inc. (NYSE:NOW) Director Jeffrey A. Miller Sells 2,879 Shares

ServiceNow, Inc. (NYSE:NOW) Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

ServiceNow Price Performance

Shares of NOW stock opened at $1,048.29 on Wednesday. The stock has a 50 day moving average price of $916.20 and a 200 day moving average price of $815.82. ServiceNow, Inc. has a 52-week low of $632.25 and a 52-week high of $1,053.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $215.95 billion, a P/E ratio of 163.03, a P/E/G ratio of 5.79 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. As a group, sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its holdings in shares of ServiceNow by 873.1% in the third quarter. Daiwa Securities Group Inc. now owns 245,525 shares of the information technology services provider’s stock valued at $219,596,000 after purchasing an additional 220,295 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of ServiceNow by 12.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 2,226 shares of the information technology services provider’s stock worth $1,990,000 after buying an additional 249 shares during the period. Cahill Financial Advisors Inc. grew its position in shares of ServiceNow by 4.7% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 403 shares of the information technology services provider’s stock worth $360,000 after buying an additional 18 shares in the last quarter. Centaurus Financial Inc. increased its stake in shares of ServiceNow by 7.7% during the third quarter. Centaurus Financial Inc. now owns 857 shares of the information technology services provider’s stock valued at $766,000 after buying an additional 61 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of ServiceNow by 48.6% in the third quarter. Larson Financial Group LLC now owns 410 shares of the information technology services provider’s stock valued at $367,000 after acquiring an additional 134 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on NOW shares. Wells Fargo & Company boosted their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank of Canada upped their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $900.00 to $960.00 in a report on Monday, October 21st. Canaccord Genuity Group increased their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group boosted their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

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.