William R. Mcdermott Sells 1,585 Shares of ServiceNow (NYSE:NOW) Stock

Key Points

• CEO William McDermott of ServiceNow sold 1,585 shares for a total of $1,426,500, decreasing his ownership to 12,439 shares valued at approximately $11.2 million.
• ServiceNow reported a 22.4% revenue increase year-over-year, with earnings per share (EPS) of $4.09, surpassing estimates of $3.57.
• Analysts have mixed ratings on ServiceNow, with one strong buy, 29 buys, three holds, and one sell, and an average target price of $1,115.20.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) CEO William R. Mcdermott sold 1,585 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $900.00, for a total value of $1,426,500.00. Following the transaction, the chief executive officer owned 12,439 shares of the company's stock, valued at $11,195,100. This trade represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ServiceNow Trading Down 0.7%

NYSE NOW traded down $6.4780 during trading hours on Monday, hitting $880.2720. 861,128 shares of the company's stock were exchanged, compared to its average volume of 1,707,480. The stock has a 50-day simple moving average of $955.00 and a 200 day simple moving average of $928.38. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a market cap of $183.10 billion, a price-to-earnings ratio of 110.87, a PEG ratio of 4.00 and a beta of 0.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Needham & Company LLC upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, July 29th. DA Davidson raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,115.20.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% during 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. Kilter Group LLC purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $25,000. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $26,000. Quarry LP purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $27,000. Finally, WASHINGTON TRUST Co boosted its stake in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

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.