Insider Selling: ServiceNow, Inc. (NYSE:NOW) General Counsel Sells 81 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the completion of the sale, the general counsel now owns 6,843 shares in the company, valued at approximately $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ServiceNow Price Performance

NOW stock opened at $1,022.98 on Thursday. The firm has a 50 day moving average of $941.65 and a 200-day moving average of $830.81. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $210.73 billion, a price-to-earnings ratio of 159.10, a PEG ratio of 5.87 and a beta of 0.98.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NOW. Quent Capital LLC raised its position in shares of ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after purchasing an additional 30 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of ServiceNow during the 1st quarter worth approximately $210,000. Bahl & Gaynor Inc. raised 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 worth $614,000 after purchasing 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 worth $932,000 after purchasing an additional 105 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in shares of ServiceNow by 97.2% during the 1st quarter. Lake Street Advisors Group LLC now owns 2,021 shares of the information technology services provider’s stock worth $1,540,000 after purchasing an additional 996 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NOW shares. UBS Group raised their price target on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. TD Cowen raised their price objective on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Evercore ISI raised their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Scotiabank assumed coverage on ServiceNow in a report on Tuesday. They set a “sector outperform” rating and a $1,230.00 price objective on the stock. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.