ServiceNow, Inc. (NYSE:NOW) Director Paul Edward Chamberlain Sells 300 Shares

Key Points

• Paul Edward Chamberlain, a director at ServiceNow, sold 300 shares of the company's stock at an average price of $860.00, amounting to $258,000, reducing his stake by 2.95%.
• ServiceNow's stock has recently increased by 2.7%, reaching $890.73, with a market cap of $185.27 billion.
• The company reported $4.09 earnings per share (EPS) for the last quarter, exceeding analysts' expectations and marking a 22.4% revenue growth year-over-year.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) Director Paul Edward Chamberlain sold 300 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $860.00, for a total value of $258,000.00. Following the completion of the sale, the director owned 9,886 shares of the company's stock, valued at $8,501,960. This represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ServiceNow Stock Up 2.7%

NYSE:NOW traded up $23.49 during trading hours on Monday, reaching $890.73. 2,575,305 shares of the stock were exchanged, compared to its average volume of 1,715,856. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day moving average of $967.03 and a 200 day moving average of $933.05. The stock has a market cap of $185.27 billion, a PE ratio of 112.18, a PEG ratio of 3.91 and a beta of 0.93.

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 (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 company had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the prior year, the business posted $3.13 EPS. The business's revenue was up 22.4% compared to the same quarter last year. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kilter Group LLC bought a new stake in shares of ServiceNow during the 2nd quarter worth approximately $25,000. Quarry LP bought a new stake in ServiceNow in the 4th quarter valued at $27,000. Global X Japan Co. Ltd. bought a new stake in ServiceNow in the 2nd quarter valued at $30,000. LGT Financial Advisors LLC bought a new stake in ServiceNow in the 2nd quarter valued at $32,000. Finally, Bogart Wealth LLC raised its stake in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares during the period. Institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC upped their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Piper Sandler upped their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. UBS Group dropped their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. Finally, Robert W. Baird increased their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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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