Larry Quinlan Sells 415 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total transaction of $419,340.90. Following the completion of the transaction, the director now directly owns 1,322 shares in the company, valued at approximately $1,335,828.12. The trade was a 23.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Larry Quinlan also recently made the following trade(s):

• On Tuesday, February 4th, Larry Quinlan sold 415 shares of ServiceNow stock. The stock was sold at an average price of $1,007.41, for a total transaction of $418,075.15.

ServiceNow Price Performance

Shares of NYSE NOW opened at $989.70 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a market cap of $203.88 billion, a PE ratio of 144.90, a PEG ratio of 4.76 and a beta of 0.99. The firm has a fifty day moving average of $1,075.99 and a 200 day moving average of $969.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently modified their holdings of NOW. World Investment Advisors LLC grew its holdings in shares of 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 purchasing an additional 4,771,830 shares during the period. Norges Bank purchased a new stake in shares of ServiceNow in the fourth quarter valued at about $2,603,360,000. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Bank of Montreal Can grew its holdings in shares of ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after purchasing an additional 666,383 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Oppenheimer lifted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial lifted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Mizuho lifted their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.