Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells 455 Shares of Stock

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

ServiceNow Trading Up 1.4 %

NOW stock traded up $14.86 on Friday, reaching $1,072.02. The company’s stock had a trading volume of 1,079,535 shares, compared to its average volume of 1,172,310. The firm has a market cap of $220.84 billion, a PE ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. The business has a fifty day simple moving average of $1,068.39 and a two-hundred 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 debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 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 analysts’ expectations of $2.75 billion. During the same period last year, the company posted $1.21 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Institutional Trading of ServiceNow

Institutional investors and hedge funds have recently bought and sold shares of the stock. Redhawk Wealth Advisors Inc. raised its stake in ServiceNow by 2.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after buying an additional 10 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network grew its position in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares during the last quarter. Finally, BluePointe Capital Management LLC lifted its stake in shares of ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after buying an additional 12 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOW. Wells Fargo & Company raised their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Truist Financial lifted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Mizuho increased their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Finally, Oppenheimer increased their target price on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, three have issued 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, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,080.38.

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.