Insider Selling: ServiceNow, Inc. (NYSE:NOW) CEO Sells 2,050 Shares of Stock

ServiceNow, Inc. (NYSE:NOW - Get Free Report) CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

ServiceNow Trading Up 0.5%

Shares of NOW stock traded up $5.07 during trading hours on Thursday, hitting $1,017.81. 902,286 shares of the company were exchanged, compared to its average volume of 1,485,137. The firm has a fifty day moving average of $910.63 and a 200 day moving average of $974.82. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a market cap of $210.67 billion, a PE ratio of 149.02, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the company earned $3.41 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in ServiceNow by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock valued at $15,522,335,000 after buying an additional 297,734 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. FMR LLC grew its stake in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after buying an additional 100,670 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of ServiceNow by 7.1% during the 1st 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 valued at $2,263,519,000 after buying an additional 188,292 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a research report on Sunday. Piper Sandler decreased their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Bank of America lowered their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Sanford C. Bernstein restated an "outperform" rating and issued a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

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.