Insider Selling: ServiceNow, Inc. (NYSE:NOW) General Counsel Sells 1,867 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 1,867 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $7,007,026.71. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ServiceNow Price Performance

NYSE:NOW traded up $16.85 during trading hours on Tuesday, hitting $1,022.19. 1,816,639 shares of the company’s stock traded hands, compared to its average volume of 1,285,622. The firm has a market cap of $210.57 billion, a P/E ratio of 156.35, a P/E/G ratio of 5.80 and a beta of 0.98. 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 business’s fifty day simple moving average is $935.45 and its two-hundred day simple moving average is $827.30. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,061.66.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. On average, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. 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 report on Thursday, October 24th. Oppenheimer raised 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. Finally, Sanford C. Bernstein increased their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy 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 $986.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC raised its holdings in shares of ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after purchasing an additional 30 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of ServiceNow during the 1st quarter valued at about $210,000. Bahl & Gaynor Inc. boosted its position in shares of ServiceNow by 71.9% during the 1st quarter. Bahl & Gaynor Inc. now owns 806 shares of the information technology services provider’s stock valued at $614,000 after acquiring an additional 337 shares during the last quarter. Seven Eight Capital LP raised its position in shares of ServiceNow by 9.4% during the 1st quarter. Seven Eight Capital LP now owns 1,222 shares of the information technology services provider’s stock valued at $932,000 after buying an additional 105 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its position in ServiceNow by 97.2% during the first quarter. Lake Street Advisors Group LLC now owns 2,021 shares of the information technology services provider’s stock valued at $1,540,000 after purchasing an additional 996 shares during the period. 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.