Insider Selling: ServiceNow, Inc. (NYSE:NOW) CFO Sells 84 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) CFO Gina Mastantuono sold 84 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $85,932.00. Following the completion of the transaction, the chief financial officer now directly owns 11,218 shares in the company, valued at $11,476,014. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Gina Mastantuono also recently made the following trade(s):

• On Thursday, May 8th, Gina Mastantuono sold 292 shares of ServiceNow stock. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00.
• On Friday, February 21st, Gina Mastantuono sold 4,442 shares of ServiceNow stock. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40.

ServiceNow Stock Down 0.7%

NOW opened at $1,029.76 on Thursday. The firm has a market cap of $213.16 billion, a P/E ratio of 150.77, a PEG 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. The business’s fifty day simple moving average is $853.85 and its 200 day simple moving average is $971.90. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research note on Thursday, April 24th. Scotiabank set a $1,100.00 price target on ServiceNow and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Guggenheim boosted their price objective on ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a research note on Thursday, April 24th. Finally, Piper Sandler decreased their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,062.50.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently made changes to their positions in NOW. Quarry LP acquired a new position in shares of ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow during the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the 4th quarter valued at about $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $34,000. Finally, Bogart Wealth LLC grew its stake in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

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.