ServiceNow (NYSE:NOW) CFO Sells 417 Shares

Key Points

• ServiceNow CFO Gina Mastantuono sold 417 shares on Nov. 28 at an average price of $808 for proceeds of $336,936, reducing her stake by 3.19% to 12,643 shares (SEC filing).
• Share split: ServiceNow is executing a 5-for-1 stock split, with newly created shares to be distributed after the close on Dec. 4 and the split effective Dec. 5.
• Q3 results: ServiceNow reported EPS of $4.82 vs. $4.21 expected and revenue of $3.41 billion, up 21.8% year-over-year, reflecting continued strong top-line growth.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) CFO Gina Mastantuono sold 417 shares of the firm's stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $808.00, for a total value of $336,936.00. Following the completion of the transaction, the chief financial officer owned 12,643 shares of the company's stock, valued at approximately $10,215,544. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ServiceNow Stock Performance

NYSE NOW traded up $2.68 during trading hours on Tuesday, reaching $824.75. The stock had a trading volume of 1,310,114 shares, compared to its average volume of 1,636,367. The stock has a fifty day moving average of $884.97 and a 200 day moving average of $933.91. The stock has a market cap of $171.55 billion, a P/E ratio of 99.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.97. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

ServiceNow's stock is scheduled to split on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly created shares will be distributed to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.61. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. The firm had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter last year, the company posted $3.72 earnings per share. The firm's revenue was up 21.8% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in ServiceNow by 2.4% in the 3rd quarter. IFP Advisors Inc now owns 4,910 shares of the information technology services provider's stock worth $4,519,000 after purchasing an additional 113 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in ServiceNow by 5.8% during the third quarter. Swiss Life Asset Management Ltd now owns 83,363 shares of the information technology services provider's stock worth $76,717,000 after buying an additional 4,565 shares in the last quarter. Cambria Investment Management L.P. acquired a new position in ServiceNow during the third quarter worth $359,000. Opes Wealth Management LLC grew its holdings in ServiceNow by 3.5% in the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider's stock valued at $467,000 after buying an additional 17 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of ServiceNow by 90.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 120,720 shares of the information technology services provider's stock worth $111,096,000 after acquiring an additional 57,489 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $1,020.00 to $1,075.00 and gave the company an "overweight" rating in a report on Thursday, October 30th. Macquarie began coverage on ServiceNow in a report on Tuesday, November 25th. They issued a "neutral" rating and a $860.00 price target for the company. Wells Fargo & Company set a $1,275.00 price objective on ServiceNow in a research report on Thursday, October 30th. TD Cowen lifted their target price on shares of ServiceNow from $1,200.00 to $1,250.00 and gave the company a "buy" rating in a report on Thursday, October 30th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $1,250.00 target price on shares of ServiceNow in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $1,149.67.

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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