Nicholas Tzitzon Sells 1,719 Shares of ServiceNow (NYSE:NOW) Stock

Key Points

• Nicholas Tzitzon, Vice Chairman of ServiceNow, sold 1,719 shares at an average price of $866.45, totaling approximately $1.49 million, reducing his ownership by 36.43% to 3,000 shares.
• ServiceNow's stock has experienced a recent decrease, trading down 0.5% to about $887.40, with a market capitalization of $184.58 billion and a 12-month high of $1,198.09.
• ServiceNow beat earnings expectations with $4.09 earnings per share for the last quarter, surpassing consensus estimates of $3.57 and reporting a revenue of $3.22 billion.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nicholas Tzitzon also recently made the following trade(s):

• On Friday, May 30th, Nicholas Tzitzon sold 1,171 shares of ServiceNow stock. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00.

ServiceNow Trading Down 0.5%

NYSE NOW traded down $4.6480 during trading hours on Tuesday, hitting $887.4020. The company's stock had a trading volume of 2,183,699 shares, compared to its average volume of 1,718,484. The stock has a fifty day moving average of $964.30 and a 200 day moving average of $932.15. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market capitalization of $184.58 billion, a P/E ratio of 111.76, a PEG ratio of 3.91 and a beta of 0.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

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 the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow's revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.13 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Institutional Trading of ServiceNow

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Kilter Group LLC bought a new stake in ServiceNow in the 2nd quarter valued at about $25,000. Graybill Wealth Management LTD. bought a new stake in ServiceNow in the 1st quarter valued at about $26,000. Quarry LP bought a new stake in ServiceNow in the 4th quarter valued at about $27,000. Finally, WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the period. Institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NOW. Citigroup lifted their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Piper Sandler lifted their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. Finally, Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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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