ServiceNow, Inc. (NYSE:NOW) Insider Paul John Smith Sells 2,404 Shares

ServiceNow, Inc. (NYSE:NOW) insider Paul John Smith sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the sale, the insider now owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This trade represents a 27.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paul John Smith also recently made the following trade(s):

• On Friday, February 14th, Paul John Smith sold 1,184 shares of ServiceNow stock. The stock was sold at an average price of $980.08, for a total value of $1,160,414.72.

ServiceNow Stock Down 3.1 %

Shares of NYSE:NOW opened at $937.79 on Friday. The stock’s 50-day moving average price is $1,054.69 and its two-hundred day moving average price is $977.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a market cap of $193.18 billion, a price-to-earnings ratio of 137.30, a PEG ratio of 4.60 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Canaccord Genuity Group upped their price target on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Scotiabank assumed coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. Oppenheimer increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Piper Sandler increased their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Institutional Trading of ServiceNow

A number of hedge funds have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of ServiceNow in the 4th quarter worth about $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow in the 4th quarter worth about $28,000. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the 3rd quarter worth about $30,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the 4th quarter worth about $32,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

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.