ServiceNow, Inc. (NYSE:NOW) Director Lawrence Jackson Sells 757 Shares

Key Points

• ServiceNow Director Lawrence Jackson sold 757 shares of stock at an average price of $990.50, amounting to approximately $749,808.50, which reduced his ownership by 56.28%.
• The company reported a quarterly EPS of $4.09, exceeding analyst estimates by $0.52, and a revenue of $3.22 billion, representing a 22.4% year-over-year increase.
• ServiceNow's stock has seen a current trading value of $942.84 with an average target price among analysts of $1,115.20, reflecting a strong overall buy rating.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) Director Lawrence Jackson sold 757 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total value of $749,808.50. Following the transaction, the director owned 588 shares of the company's stock, valued at approximately $582,414. This trade represents a 56.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $34.65 during midday trading on Thursday, hitting $942.84. 2,122,595 shares of the company's stock were exchanged, compared to its average volume of 1,691,199. 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, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company's 50 day moving average price is $998.18 and its 200 day moving average price is $952.04. The firm has a market capitalization of $196.11 billion, a PE ratio of 118.75, a price-to-earnings-growth ratio of 4.48 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS 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 for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the company earned $3.13 EPS. The company's revenue was up 22.4% on a year-over-year basis. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Nuveen LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in ServiceNow by 1,586.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock valued at $742,965,000 after purchasing an additional 877,875 shares during the period. Goldman Sachs Group Inc. grew its holdings in ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the period. Finally, Parnassus Investments LLC bought a new position in shares of ServiceNow in the first quarter worth $519,806,000. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOW shares. Mizuho boosted their price objective 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. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Evercore ISI boosted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada upped their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given 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, the stock 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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