ServiceNow, Inc. (NYSE:NOW) Director Sells $418,075.15 in Stock

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the completion of the transaction, the director now directly owns 1,737 shares in the company, valued at approximately $1,749,871.17. This represents a 19.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,026.25 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business has a fifty day moving average of $1,081.85 and a 200 day moving average of $961.18. The firm has a market capitalization of $211.41 billion, a price-to-earnings ratio of 150.26, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, research analysts expect that ServiceNow, Inc. will post 8.94 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent analyst reports. TD Cowen raised their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler lifted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. BMO Capital Markets boosted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $4,143,000. Jones Financial Companies Lllp lifted its stake in shares of ServiceNow by 27.5% in the fourth quarter. Jones Financial Companies Lllp now owns 50,145 shares of the information technology services provider’s stock worth $53,159,000 after buying an additional 10,801 shares in the last quarter. Modera Wealth Management LLC raised its holdings in shares of ServiceNow by 22.7% during the 4th quarter. Modera Wealth Management LLC now owns 335 shares of the information technology services provider’s stock worth $355,000 after acquiring an additional 62 shares during the period. SRS Capital Advisors Inc. increased its stake in ServiceNow by 3.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 703 shares of the information technology services provider’s stock worth $745,000 after acquiring an additional 26 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in ServiceNow during the fourth quarter worth about $761,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

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.