ServiceNow, Inc. (NYSE:NOW) CFO Sells $85,932.00 in Stock

ServiceNow, Inc. (NYSE:NOW) CFO Gina Mastantuono sold 84 shares of ServiceNow stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 11,218 shares in the company, valued at $11,476,014. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 value of $287,620.00.
• On Friday, February 21st, Gina Mastantuono sold 4,442 shares of ServiceNow stock. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40.

ServiceNow Price Performance

NOW stock opened at $1,035.34 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $214.32 billion, a PE ratio of 151.59, a P/E/G ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The business’s fifty day moving average price is $858.93 and its 200 day moving average price is $972.52.

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

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

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently modified their holdings of NOW. Janus Henderson Group PLC increased its holdings in ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after purchasing an additional 12,533 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow during the fourth quarter worth about $48,802,000. Dock Street Asset Management Inc. increased its stake in shares of ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after buying an additional 1,105 shares during the period. Rheos Capital Works Inc. acquired a new stake in ServiceNow in the fourth quarter valued at approximately $10,071,000. Finally, FMR LLC raised its holdings in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after acquiring an additional 272,506 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOW. BMO Capital Markets lifted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities reissued a “buy” rating and set a $1,100.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Jefferies Financial Group lowered their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Evercore ISI boosted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $1,050.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. One research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

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.