ServiceNow, Inc. (NYSE:NOW) Insider Sells $102,397.00 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Kevin Thomas Mcbride sold 100 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the sale, the insider now directly owns 3,457 shares of the company’s stock, valued at $3,539,864.29. This represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

ServiceNow Price Performance

NYSE NOW traded up $16.85 during trading on Tuesday, hitting $1,022.19. 1,816,639 shares of the stock traded hands, compared to its average volume of 1,285,622. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. The firm has a 50-day simple moving average of $935.45 and a 200-day simple moving average of $827.30. The company has a market capitalization of $210.57 billion, a P/E ratio of 156.35, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NOW. Stifel Nicolaus lifted their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. TD Cowen upped their price target on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. JMP Securities lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Evercore ISI raised their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Barclays upped their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $986.39.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Catalyst Financial Partners LLC grew its holdings in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network lifted its stake in ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after acquiring an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 12 shares during the last quarter. BluePointe Capital Management LLC lifted its holdings in shares of ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after purchasing an additional 12 shares during the last quarter. Finally, Morling Financial Advisors LLC boosted its holdings in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

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.