ServiceNow, Inc. (NYSE:NOW) Insider Jacqueline P. Canney Sells 257 Shares

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 257 shares of ServiceNow stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $253,145.00. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,981,595. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

ServiceNow Stock Up 0.7 %

NYSE:NOW opened at $981.13 on Friday. The firm has a market capitalization of $203.09 billion, a price-to-earnings ratio of 143.65, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock’s 50 day moving average price is $844.85 and its two-hundred day moving average price is $970.05.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the firm posted $3.41 earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NOW shares. Barclays set a $1,085.00 target price on ServiceNow in a research report on Wednesday. TD Securities reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. Redburn Atlantic initiated coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,048.55.

Hedge Funds Weigh In On ServiceNow

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC lifted its position in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in ServiceNow during the 1st quarter valued at $26,000. Quarry LP acquired a new stake in ServiceNow during the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter valued at $28,000. Finally, WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares during the period. Institutional investors own 87.18% of the company’s stock.

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.