Gina Mastantuono Sells 84 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

Key Points

• Gina Mastantuono, CFO of ServiceNow, sold 84 shares at an average price of $860.57, totaling approximately $72,287.88, which decreased her ownership in the company by 0.72%.
• ServiceNow's stock dropped 1.5% to $850.49 following this announcement, with a significant trading volume of over 1.7 million shares.
• The company reported a quarterly earnings of $4.09 per share, surpassing estimates, alongside a 22.4% year-over-year revenue growth to $3.22 billion.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) CFO Gina Mastantuono sold 84 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $860.57, for a total transaction of $72,287.88. Following the transaction, the chief financial officer owned 11,572 shares in the company, valued at approximately $9,958,516.04. This trade represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, August 8th, Gina Mastantuono sold 292 shares of ServiceNow stock. The stock was sold at an average price of $878.39, for a total transaction of $256,489.88.

ServiceNow Trading Down 1.5%

Shares of ServiceNow stock traded down $12.81 during trading on Thursday, hitting $850.49. The stock had a trading volume of 1,784,168 shares, compared to its average volume of 1,709,971. The firm's fifty day simple moving average is $973.65 and its 200-day simple moving average is $939.15. The stock has a market cap of $176.90 billion, a PE ratio of 107.12, a PEG ratio of 3.85 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $3.13 EPS. The firm's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOW. Raymond James Financial Inc. grew its position in shares of ServiceNow by 0.5% in the 2nd quarter. Raymond James Financial Inc. now owns 409,060 shares of the information technology services provider's stock worth $420,546,000 after buying an additional 2,078 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of ServiceNow in the 2nd quarter worth approximately $232,000. Quantinno Capital Management LP grew its position in shares of ServiceNow by 42.1% in the 2nd quarter. Quantinno Capital Management LP now owns 50,511 shares of the information technology services provider's stock worth $51,930,000 after buying an additional 14,965 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of ServiceNow by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,956 shares of the information technology services provider's stock worth $217,444,000 after buying an additional 9,733 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its position in shares of ServiceNow by 298.9% in the 2nd quarter. Diversify Wealth Management LLC now owns 24,271 shares of the information technology services provider's stock worth $24,953,000 after buying an additional 18,186 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on NOW shares. Robert W. Baird increased their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. UBS Group decreased their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. DA Davidson increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Jefferies Financial Group raised their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Citigroup raised their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

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.

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