Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells 313 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ServiceNow Stock Down 2.7 %

ServiceNow stock opened at $1,041.40 on Friday. The firm has a market cap of $214.53 billion, a price-to-earnings ratio of 161.96, a PEG ratio of 5.98 and a beta of 0.98. 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, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. The stock has a fifty day simple moving average of $960.84 and a two-hundred day simple moving average of $843.79.

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, 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 business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc lifted its holdings in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC boosted its position in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at about $30,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NOW shares. Royal Bank of Canada lifted their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen upped their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Citigroup increased their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Needham & Company LLC upped their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $989.07.

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.