ServiceNow, Inc. (NYSE:NOW) CEO Sells $12,242,408.57 in Stock

ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ServiceNow Trading Up 2.5 %

Shares of NYSE:NOW traded up $25.36 during midday trading on Thursday, reaching $1,048.34. The company had a trading volume of 788,995 shares, compared to its average volume of 1,284,271. The company has a fifty day simple moving average of $941.65 and a two-hundred day simple moving average of $830.81. The firm has a market cap of $215.96 billion, a price-to-earnings ratio of 159.10, a price-to-earnings-growth ratio of 5.87 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Institutional Trading of ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of the business. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc lifted its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of ServiceNow during the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOW shares. BMO Capital Markets raised their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Scotiabank initiated coverage on shares of ServiceNow in a research report on Tuesday. They set a “sector outperform” rating and a $1,230.00 price objective for the company. Needham & Company LLC lifted their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Truist Financial increased their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, JMP Securities upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

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.