ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 191 Shares

ServiceNow, Inc. (NYSE:NOW - Get Free Report) General Counsel Russell S. Elmer sold 191 shares of ServiceNow stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $188,135.00. Following the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,267,020. This trade represents a 4.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ServiceNow Price Performance

NYSE NOW traded up $6.64 during trading hours on Friday, reaching $981.13. 919,297 shares of the stock traded hands, compared to its average volume of 1,516,226. The stock has a 50 day simple moving average of $844.85 and a two-hundred day simple moving average of $970.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a market cap of $203.09 billion, a price-to-earnings ratio of 143.65, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

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

ServiceNow announced that its board has approved a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Institutional Trading of ServiceNow

A number of large investors have recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC grew its holdings in ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after purchasing an additional 10 shares during the last quarter. Institute for Wealth Management LLC. grew its position in ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after purchasing an additional 11 shares during the last quarter. TBH Global Asset Management LLC raised its stake in shares of ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after purchasing an additional 11 shares during the last quarter. Finally, Onefund LLC lifted its position in ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after purchasing an additional 11 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 have recently commented on the stock. Piper Sandler reduced their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada raised their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Guggenheim increased their price target on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research report on Thursday, April 24th. Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and upped their price target for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,055.83.

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.