ServiceNow (NYSE:NOW) Insider Sells $1,299,612.60 in Stock

Key Points

• Insider Transaction: Paul Fipps, an insider at ServiceNow, sold 1,452 shares for a total of $1,299,612.60, significantly reducing his position by 76.06% to just 457 shares remaining.
• Earnings Report: ServiceNow reported a Q2 EPS of $4.09, exceeding analyst estimates of $3.57, with revenues of $3.22 billion, marking a 22.4% year-over-year increase.
• Stock Performance and Ratings: ServiceNow's stock is currently trading at $877.69, with a market capitalization of $182.56 billion, and holds a consensus rating of "Moderate Buy" with a price target of $1,115.20.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Paul Fipps sold 1,452 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the transaction, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. This represents a 76.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ServiceNow Stock Performance

NYSE:NOW traded down $12.5650 during trading hours on Thursday, reaching $877.6850. 1,125,330 shares of the stock were exchanged, compared to its average volume of 1,716,612. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $959.60 and a 200-day simple moving average of $931.56. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a market capitalization of $182.56 billion, a P/E ratio of 110.54, a P/E/G ratio of 4.00 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the business posted $3.13 EPS. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. Citigroup lifted their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Raymond James Financial lifted their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Institutional Trading of ServiceNow

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of ServiceNow by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 19,895,063 shares of the information technology services provider's stock worth $20,453,716,000 after buying an additional 398,071 shares in the last quarter. State Street Corp raised its stake in shares of ServiceNow by 1.7% in the 2nd quarter. State Street Corp now owns 9,323,619 shares of the information technology services provider's stock worth $9,585,426,000 after buying an additional 154,307 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of ServiceNow by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 4,574,563 shares of the information technology services provider's stock worth $4,684,445,000 after acquiring an additional 88,057 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock worth $2,263,519,000 after acquiring an additional 188,292 shares during the last quarter. 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.

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