ServiceNow, Inc. (NYSE:NOW) Insider Jacqueline P. Canney Sells 455 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

ServiceNow Trading Up 1.4 %

Shares of ServiceNow stock opened at $1,072.02 on Friday. The company has a market capitalization of $220.84 billion, a P/E ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The stock has a fifty day simple moving average of $1,068.39 and a 200 day simple moving average of $929.31. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. On average, sell-side 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 several analyst reports. Citigroup raised their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus lifted their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Truist Financial upped their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group boosted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, UBS Group increased their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,080.38.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOW. Veracity Capital LLC increased its position in shares of ServiceNow by 4.6% during the fourth quarter. Veracity Capital LLC now owns 1,030 shares of the information technology services provider’s stock valued at $1,092,000 after acquiring an additional 45 shares during the last quarter. Secure Asset Management LLC bought a new position in ServiceNow in the 4th quarter valued at $503,000. Red Door Wealth Management LLC increased its position in shares of ServiceNow by 6.5% during the 4th quarter. Red Door Wealth Management LLC now owns 7,901 shares of the information technology services provider’s stock valued at $8,376,000 after purchasing an additional 481 shares during the last quarter. Galvin Gaustad & Stein LLC raised its stake in shares of ServiceNow by 4.7% during the 4th quarter. Galvin Gaustad & Stein LLC now owns 885 shares of the information technology services provider’s stock worth $938,000 after purchasing an additional 40 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in shares of ServiceNow by 6.6% in the 4th quarter. Avior Wealth Management LLC now owns 633 shares of the information technology services provider’s stock worth $671,000 after buying an additional 39 shares during the last quarter. 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.