ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott Sells 12,271 Shares

ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

ServiceNow Trading Up 0.9 %

Shares of ServiceNow stock traded up $9.45 during midday trading on Friday, reaching $1,056.50. The company had a trading volume of 236,410 shares, compared to its average volume of 1,279,542. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The stock has a fifty day moving average price of $944.90 and a 200 day moving average price of $832.32. The firm has a market cap of $217.64 billion, a PE ratio of 163.04, a P/E/G ratio of 5.87 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. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds and other institutional investors have recently modified their holdings of NOW. Catalyst Financial Partners LLC grew its position in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares during the period. First Affirmative Financial Network boosted its holdings in ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after buying an additional 12 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the period. BluePointe Capital Management LLC grew its holdings in ServiceNow by 0.6% during the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after buying an additional 12 shares in the last quarter. Finally, Morling Financial Advisors LLC lifted its holdings in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NOW. Mizuho boosted their price target on ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup lifted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Canaccord Genuity Group upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Robert W. Baird upped their target price on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.