Insider Selling: ServiceNow (NYSE:NOW) General Counsel Sells 1,698 Shares of Stock

Key Points

• ServiceNow's General Counsel, Russell Elmer, sold 1,698 shares at an average price of $884.26, totaling approximately $1.5 million, resulting in a 28.16% decrease in his stock ownership.
• ServiceNow reported $4.09 earnings per share for the last quarter, exceeding analysts' estimates by $0.52, with revenue reaching $3.22 billion, a 22.4% increase year-over-year.
• About 87.18% of ServiceNow's stock is held by institutional investors, with Vanguard Group Inc. being one of the prominent shareholders following a 2.0% increase in their stake during the second quarter.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) General Counsel Russell Elmer sold 1,698 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ServiceNow Stock Performance

Shares of NOW stock traded down $12.5650 on Thursday, reaching $877.6850. The stock had a trading volume of 1,125,330 shares, compared to its average volume of 1,716,612. The stock has a market cap of $182.56 billion, a P/E ratio of 110.54, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day simple moving average of $959.60 and a 200 day simple moving average of $931.56.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in ServiceNow by 2.0% during the second quarter. Vanguard Group Inc. now owns 19,895,063 shares of the information technology services provider's stock worth $20,453,716,000 after acquiring an additional 398,071 shares during the last quarter. State Street Corp increased its stake in ServiceNow by 1.7% during the second quarter. State Street Corp now owns 9,323,619 shares of the information technology services provider's stock worth $9,585,426,000 after acquiring an additional 154,307 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. Geode Capital Management LLC increased its stake in ServiceNow by 2.0% during the second quarter. Geode Capital Management LLC now owns 4,574,563 shares of the information technology services provider's stock worth $4,684,445,000 after acquiring an additional 88,057 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in ServiceNow by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock worth $2,263,519,000 after acquiring an additional 188,292 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOW has been the topic of several analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Sanford C. Bernstein reiterated an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Mizuho lifted their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. Finally, Bank of America raised their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

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.

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