Insider Selling: ServiceNow, Inc. (NYSE:NOW) General Counsel Sells 81 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 81 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the sale, the general counsel now owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

ServiceNow Trading Up 1.7 %

Shares of NYSE:NOW traded up $16.85 during midday trading on Tuesday, reaching $1,022.19. The company’s stock had a trading volume of 1,816,639 shares, compared to its average volume of 1,285,622. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $210.57 billion, a price-to-earnings ratio of 156.35, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66. The business has a 50 day moving average price of $935.45 and a 200 day moving average price of $827.30.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. Research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the 1st quarter valued at $25,000. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter worth about $30,000. Versant Capital Management Inc boosted its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. DT Investment Partners LLC raised its holdings in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. Finally, EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays increased their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Citigroup upped their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Piper Sandler increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $986.39.

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.