ServiceNow, Inc. (NYSE:NOW) Insider Sells $95,554.76 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,077,066.58. This trade represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

ServiceNow Stock Up 1.7 %

NOW stock opened at $1,022.19 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The firm has a market capitalization of $210.57 billion, a PE ratio of 158.97, a P/E/G ratio of 5.80 and a beta of 0.98. The stock’s 50 day moving average is $938.70 and its 200-day moving average is $829.46. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (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 analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. Oppenheimer upped their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One 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 stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $986.39.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares during the last quarter. FMR LLC boosted its stake in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. World Investment Advisors LLC boosted its stake in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC boosted its stake in ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after acquiring an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after acquiring an additional 615,797 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

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.