ServiceNow (NYSE:NOW) General Counsel Sells $66,993.48 in Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell Elmer sold 81 shares of ServiceNow stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $827.08, for a total value of $66,993.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,582,910.56. This represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

ServiceNow Trading Down 0.3%

Shares of NYSE NOW traded down $2.79 during midday trading on Wednesday, reaching $815.18. The company had a trading volume of 1,913,438 shares, compared to its average volume of 1,641,529. The stock has a market cap of $169.56 billion, a PE ratio of 98.57, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm’s fifty day moving average price is $908.37 and its 200-day moving average price is $946.44. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow shares are scheduled to split before the market opens on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.35 billion. ServiceNow had a return on equity of 19.23% and a net margin of 13.66%.The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.72 EPS. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Institutional Trading of ServiceNow

Several large investors have recently bought and sold shares of NOW. Kilter Group LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at approximately $25,000. IAG Wealth Partners LLC raised its holdings in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in ServiceNow during the second quarter valued at $30,000. Total Investment Management Inc. purchased a new position in ServiceNow during the second quarter valued at $31,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at $32,000. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. Barclays increased their price target on shares of ServiceNow from $1,210.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. BMO Capital Markets lowered their price objective on shares of ServiceNow from $1,160.00 to $1,150.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,200.00 target price on shares of ServiceNow in a report on Monday, October 27th. Morgan Stanley set a $1,315.00 price target on ServiceNow and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Mizuho set a $1,150.00 price target on ServiceNow in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,159.66.

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.