Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells 66 Shares of Stock

ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Jacqueline P. Canney sold 66 shares of the business's 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 $67,518.00. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,096,621. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ServiceNow Stock Down 0.7%

Shares of NYSE NOW traded down $6.96 during mid-day trading on Wednesday, reaching $1,029.76. The company had a trading volume of 1,412,866 shares, compared to its average volume of 1,893,417. The stock has a market capitalization of $213.16 billion, a PE ratio of 150.77, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock's 50 day moving average is $850.27 and its 200-day moving average is $971.49.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The firm 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 company's revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.41 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a stock repurchase program 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOW. Oppenheimer reiterated an "outperform" rating and set a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Morgan Stanley increased their target price on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Raymond James dropped their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Finally, BMO Capital Markets upped their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently bought and sold shares of NOW. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after buying an additional 9 shares during the period. Redhawk Wealth Advisors Inc. grew its position in ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after purchasing an additional 10 shares during the last quarter. Haverford Trust Co raised its position in shares of ServiceNow by 0.9% during the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after buying an additional 10 shares during the last quarter. Institute for Wealth Management LLC. grew its position in ServiceNow by 0.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after buying an additional 11 shares in the last quarter. Finally, TBH Global Asset Management LLC lifted its position in shares of ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after acquiring an additional 11 shares during the period. 87.18% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.