ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 1,023 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 1,023 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the completion of the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at $4,280,016. This trade represents a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $986.61 on Thursday. The company has a 50-day simple moving average of $1,061.97 and a 200-day simple moving average of $976.06. 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 company has a market cap of $203.24 billion, a PE ratio of 144.45, a price-to-earnings-growth ratio of 4.59 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month 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 the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved a stock buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NOW shares. Oppenheimer raised their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Piper Sandler raised their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a research note on Thursday, January 30th. Canaccord Genuity Group increased their price objective on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group boosted their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Hedge Funds Weigh In On ServiceNow

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the period. State Street Corp raised its stake in ServiceNow by 2.6% during the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares during the period. Price T Rowe Associates Inc. MD raised its stake in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the period. FMR LLC boosted its holdings in shares of ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Finally, World Investment Advisors LLC increased its holdings in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.