ServiceNow, Inc. (NYSE:NOW) General Counsel Sells $188,135.00 in Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 191 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $188,135.00. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at $4,267,020. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ServiceNow Trading Up 0.7%

NOW opened at $981.13 on Monday. The stock has a market capitalization of $203.09 billion, a price-to-earnings ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a 50-day simple moving average of $844.85 and a 200 day simple moving average of $970.58.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.41 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share buyback plan 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on NOW. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. TD Securities restated a “buy” rating and issued a $1,100.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Redburn Atlantic began coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Jefferies Financial Group decreased their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,055.83.

Hedge Funds Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of ServiceNow during the 1st quarter worth $1,966,000. Waycross Partners LLC bought a new position in shares of ServiceNow in the first quarter worth about $14,226,000. Ontario Teachers Pension Plan Board boosted its stake in shares of ServiceNow by 27.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 690 shares of the information technology services provider’s stock valued at $549,000 after purchasing an additional 147 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of ServiceNow by 24.0% during the 1st quarter. Deutsche Bank AG now owns 1,522,141 shares of the information technology services provider’s stock valued at $1,211,837,000 after purchasing an additional 295,080 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in ServiceNow by 10.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 826 shares of the information technology services provider’s stock worth $658,000 after purchasing an additional 77 shares in the last quarter. 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.