ServiceNow, Inc. (NYSE:NOW) CFO Sells $256,489.88 in Stock

Key Points

• Gina Mastantuono, the CFO of ServiceNow, sold 292 shares for approximately $256,489.88, reducing her ownership by 2.47% to 11,551 shares valued at about $10.14 million.
• ServiceNow's shares fell by 1.9%, trading at $855.95, with a 1-year price range between $678.66 and $1,198.09.
• In its latest earnings report, ServiceNow posted $4.09 earnings per share, beating estimates and marking a 22.4% year-over-year revenue growth of $3.22 billion.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) CFO Gina Mastantuono sold 292 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $878.39, for a total value of $256,489.88. Following the sale, the chief financial officer directly owned 11,551 shares of the company's stock, valued at approximately $10,146,282.89. This represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Gina Mastantuono also recently made the following trade(s):

• On Tuesday, May 13th, Gina Mastantuono sold 84 shares of ServiceNow stock. The shares were sold at an average price of $1,023.00, for a total transaction of $85,932.00.

ServiceNow Stock Down 1.9%

Shares of NOW traded down $16.56 during midday trading on Monday, reaching $855.95. 2,368,911 shares of the company were exchanged, compared to its average volume of 1,696,838. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a 50-day moving average price of $982.92 and a 200-day moving average price of $942.17. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $178.04 billion, a price-to-earnings ratio of 107.80, a P/E/G ratio of 3.93 and a beta of 0.93.

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 analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the prior year, the business earned $3.13 EPS. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Empirical Finance LLC raised its holdings in ServiceNow by 0.8% in the second quarter. Empirical Finance LLC now owns 6,726 shares of the information technology services provider's stock valued at $6,915,000 after acquiring an additional 51 shares in the last quarter. Alteri Wealth LLC raised its stake in shares of ServiceNow by 1.7% in the 2nd quarter. Alteri Wealth LLC now owns 855 shares of the information technology services provider's stock valued at $879,000 after purchasing an additional 14 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of ServiceNow during the second quarter worth about $43,000. FineMark National Bank & Trust grew its stake in ServiceNow by 2.7% in the second quarter. FineMark National Bank & Trust now owns 12,517 shares of the information technology services provider's stock worth $12,868,000 after purchasing an additional 326 shares in the last quarter. Finally, Stonebrook Private Inc. increased its holdings in ServiceNow by 5.7% in the second quarter. Stonebrook Private Inc. now owns 668 shares of the information technology services provider's stock valued at $687,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

NOW has been the subject of a number of recent analyst reports. Oppenheimer restated an "outperform" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Mizuho lifted their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. Piper Sandler boosted their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Canaccord Genuity Group reduced their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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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