ServiceNow (NYSE:NOW) Director Anita Sands Sells 1,097 Shares of Stock

Key Points

• Director Anita Sands sold 1,097 shares of ServiceNow at an average price of $915.11, totaling over $1 million, and now owns 9,307 shares remaining.
• ServiceNow reported earnings of $4.09 per share, exceeding estimates, with a revenue of $3.22 billion reflecting a 22.4% year-over-year increase.
• Analyst ratings for ServiceNow include one Strong Buy, twenty-nine Buy, and three Hold ratings, with a consensus price target of $1,115.20.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) Director Anita Sands sold 1,097 shares of ServiceNow stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ServiceNow Stock Performance

NYSE:NOW traded down $4.53 during mid-day trading on Tuesday, hitting $912.93. The stock had a trading volume of 1,247,534 shares, compared to its average volume of 1,853,854. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market cap of $189.89 billion, a price-to-earnings ratio of 114.98, a PEG ratio of 4.14 and a beta of 0.91. The company's 50 day simple moving average is $943.00 and its 200 day simple moving average is $924.15. 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 (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 (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the business posted $3.13 EPS. ServiceNow's revenue was up 22.4% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Erste Group Bank restated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a report on Monday, August 4th. Finally, Barclays set a $1,210.00 target price on shares of ServiceNow in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Haverford Trust Co raised its position in ServiceNow by 0.9% during the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after purchasing an additional 10 shares in the last quarter. Ascent Group LLC raised its position in ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock valued at $1,628,000 after purchasing an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. raised its position in ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after purchasing an additional 11 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after buying an additional 11 shares during the last quarter. Finally, one8zero8 LLC increased its holdings in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after buying an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

About ServiceNow

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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