ServiceNow (NYSE:NOW) Insider Jacqueline Canney Sells 1,562 Shares

Key Points

• Jacqueline Canney, an insider at ServiceNow, sold 1,562 shares for approximately $1.35 million, marking a 34.04% decrease in her ownership.
• ServiceNow's stock price dropped to $887.40, with a market capitalization of $184.58 billion and a PE ratio of 111.76.
• The company reported earnings of $4.09 per share, surpassing analyst expectations and showing a 22.4% revenue increase year-over-year.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Jacqueline Canney sold 1,562 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares in the company, valued at $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ServiceNow Price Performance

NYSE NOW traded down $4.6480 during trading on Tuesday, reaching $887.4020. The company's stock had a trading volume of 2,183,699 shares, compared to its average volume of 1,718,484. The stock has a market capitalization of $184.58 billion, a PE ratio of 111.76, a P/E/G ratio of 3.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a fifty day moving average of $964.30 and a 200 day moving average of $932.15. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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 business 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%.The company's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.13 EPS. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. purchased a new stake in ServiceNow in the 2nd quarter worth approximately $2,633,000. Newbridge Financial Services Group Inc. lifted its holdings in ServiceNow by 97.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,819 shares of the information technology services provider's stock worth $3,926,000 after buying an additional 1,883 shares during the period. Advisory Services Network LLC lifted its holdings in ServiceNow by 5.0% in the 2nd quarter. Advisory Services Network LLC now owns 14,372 shares of the information technology services provider's stock worth $13,554,000 after buying an additional 682 shares during the period. Asset Dedication LLC lifted its holdings in ServiceNow by 2.1% in the 2nd quarter. Asset Dedication LLC now owns 2,893 shares of the information technology services provider's stock worth $2,974,000 after buying an additional 59 shares during the period. Finally, Liontrust Investment Partners LLP lifted its holdings in ServiceNow by 11.4% in the 2nd quarter. Liontrust Investment Partners LLP now owns 109,352 shares of the information technology services provider's stock worth $112,423,000 after buying an additional 11,182 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Mizuho increased their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Wall Street Zen upgraded ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, July 29th. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and increased their price objective for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Finally, Scotiabank set a $1,100.00 price target on ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

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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