ServiceNow, Inc. (NYSE:NOW) Insider Jacqueline P. Canney Sells 257 Shares

Key Points

• Insider Jacqueline P. Canney sold 257 shares of ServiceNow, Inc. at an average price of $878.39, resulting in a total transaction value of $225,746.23 and a 7.83% decrease in her position.
• ServiceNow's earnings exceeded analysts' expectations, reporting $4.09 earnings per share for the quarter, up 22.4% year-over-year, with a revenue of $3.22 billion.
• The stock has seen varied analyst ratings, with a consensus target price of $1,115.20, while multiple research firms have provided different price targets ranging from $724.00 to $1,210.00.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Jacqueline P. Canney sold 257 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 transaction of $225,746.23. Following the completion of the sale, the insider directly owned 3,027 shares of the company's stock, valued at $2,658,886.53. The trade was a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ServiceNow Price Performance

NYSE:NOW traded down $16.56 during trading hours on Monday, hitting $855.95. The stock had a trading volume of 2,368,911 shares, compared to its average volume of 1,696,838. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm has a market capitalization 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. The company has a 50 day simple moving average of $982.92 and a two-hundred day simple moving average of $942.17.

ServiceNow (NYSE:NOW - Get Free Report) last posted its 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 net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the business posted $3.13 earnings per share. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on NOW. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Barclays set a $1,210.00 price objective on ServiceNow in a research report on Thursday, July 24th. Guggenheim reaffirmed a "sell" rating and issued a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. 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 report on Thursday, July 24th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. One investment 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently bought and sold shares of NOW. GAMMA Investing LLC lifted 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 buying an additional 2,686,291 shares in the last quarter. Nuveen LLC purchased a new stake in shares of ServiceNow during the first quarter worth about $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of 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 buying an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock worth $1,178,706,000 after purchasing an additional 840,731 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new position in ServiceNow during the 1st quarter valued at approximately $519,806,000. 87.18% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.