ServiceNow, Inc. (NYSE:NOW) Insider Sells $69,187.14 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ServiceNow Stock Down 2.7 %

ServiceNow stock opened at $1,011.39 on Friday. The firm has a 50 day moving average price of $932.47 and a 200-day moving average price of $824.15. 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, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The company has a market capitalization of $208.35 billion, a P/E ratio of 157.29, a P/E/G ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The business 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 revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. Sanford C. Bernstein boosted their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird upped their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen upped their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $974.04.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently added to or reduced their stakes in NOW. Geode Capital Management LLC boosted its position in ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Resources Management Corp CT ADV lifted its stake in shares of ServiceNow by 1.6% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,286 shares of the information technology services provider’s stock valued at $1,150,000 after buying an additional 20 shares in the last quarter. Abel Hall LLC boosted its holdings in ServiceNow by 4.9% in the 3rd quarter. Abel Hall LLC now owns 281 shares of the information technology services provider’s stock worth $251,000 after buying an additional 13 shares during the period. Continuum Advisory LLC grew its stake in ServiceNow by 46.9% in the 3rd quarter. Continuum Advisory LLC now owns 141 shares of the information technology services provider’s stock valued at $126,000 after buying an additional 45 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in ServiceNow by 15.6% during the 3rd quarter. LRI Investments LLC now owns 1,094 shares of the information technology services provider’s stock valued at $978,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.