ServiceNow, Inc. (NYSE:NOW) General Counsel Sells $2,541,357.99 in Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 2,511 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,384,373.88. The trade was a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $1,007.79 on Friday. The stock has a market capitalization of $207.61 billion, a price-to-earnings ratio of 147.55, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. The company has a fifty day moving average of $1,081.18 and a 200-day moving average of $962.06. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities research analysts expect that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of ServiceNow

A number of institutional investors have recently made changes to their positions in NOW. Truvestments Capital LLC bought a new stake in ServiceNow during the 3rd quarter valued at $30,000. FPC Investment Advisory Inc. increased its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the period. Noble Wealth Management PBC bought a new position in shares of ServiceNow during the fourth quarter valued at about $34,000. DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NOW shares. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $900.00 to $960.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Citigroup cut their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday. Evercore ISI increased their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays lifted their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.