Jacqueline P. Canney Sells 67 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

Key Points

• Jacqueline P. Canney, an insider at ServiceNow, sold 67 shares of the company's stock for approximately $57,658, reducing her stake by 2.17% to a total of 3,027 shares valued at around $2.6 million.
• ServiceNow reported earnings of $4.09 per share for its last quarter, exceeding expectations by $0.52, and showed a revenue growth of 22.4% year-over-year.
• The stock has seen recent analyst activity with a consensus rating of "Moderate Buy" and an average target price of $1,115.20, indicating positive outlook despite current fluctuations.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Jacqueline P. Canney sold 67 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $860.57, for a total transaction of $57,658.19. Following the completion of the sale, the insider owned 3,027 shares of the company's stock, valued at $2,604,945.39. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

ServiceNow Price Performance

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 has a market cap of $176.90 billion, a price-to-earnings ratio of 107.12, a P/E/G ratio of 3.85 and a beta of 0.93. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The business's 50-day moving average is $973.65 and its 200 day moving average is $939.15. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Institutional Trading of ServiceNow

A number of hedge funds have recently made changes to their positions in NOW. Brighton Jones LLC lifted its holdings in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of ServiceNow by 5.6% during the 4th quarter. Cohen & Steers Inc. now owns 507 shares of the information technology services provider's stock worth $537,000 after acquiring an additional 27 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of ServiceNow by 20.5% during the 4th quarter. CreativeOne Wealth LLC now owns 1,443 shares of the information technology services provider's stock worth $1,530,000 after acquiring an additional 245 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of ServiceNow during the 4th quarter worth $576,000. Finally, Jump Financial LLC lifted its holdings in shares of ServiceNow by 288.8% during the 4th quarter. Jump Financial LLC now owns 6,680 shares of the information technology services provider's stock worth $7,082,000 after acquiring an additional 4,962 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Citigroup raised their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Mizuho increased their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Finally, Robert W. Baird boosted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price 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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