ServiceNow, Inc. (NYSE:NOW) CFO Gina Mastantuono Sells 292 Shares

ServiceNow, Inc. (NYSE:NOW - Get Free Report) CFO Gina Mastantuono sold 292 shares of ServiceNow stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the sale, the chief financial officer now owns 11,198 shares in the company, valued at approximately $11,030,030. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 Up 1.9%

Shares of NOW stock traded up $19.65 during trading hours on Tuesday, hitting $1,035.25. 961,826 shares of the company were exchanged, compared to its average volume of 1,513,883. The business has a 50 day moving average of $846.83 and a two-hundred day moving average of $971.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a market capitalization of $214.30 billion, a PE ratio of 151.57, a PEG ratio of 4.51 and a beta of 0.97.

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

ServiceNow announced that its board has initiated a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. Canaccord Genuity Group reduced their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup boosted their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Robert W. Baird boosted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,055.83.

Institutional Trading of ServiceNow

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. Norges Bank acquired a new stake in ServiceNow during the 4th quarter worth approximately $2,603,360,000. Nuveen LLC acquired a new position in shares of ServiceNow in the 1st quarter worth approximately $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock worth $742,965,000 after purchasing an additional 877,875 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after acquiring an additional 840,731 shares in the last quarter. Institutional investors and hedge funds 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.