Insider Selling: ServiceNow, Inc. (NYSE:NOW) CFO Sells 4,442 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ServiceNow Trading Up 2.1 %

NYSE:NOW opened at $941.79 on Thursday. The stock’s 50 day moving average price is $1,044.39 and its 200 day moving average price is $981.23. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a market capitalization of $194.01 billion, a P/E ratio of 137.89, a P/E/G ratio of 4.51 and a beta of 0.99. 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 released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has approved a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NOW shares. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Raymond James started coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. Scotiabank started coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. Finally, Guggenheim restated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Institutional Investors Weigh In On ServiceNow

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in ServiceNow during the fourth quarter worth approximately $27,000. Atala Financial Inc bought a new stake in ServiceNow during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the fourth quarter worth approximately $32,000. Noble Wealth Management PBC bought a new stake in ServiceNow during the fourth quarter worth approximately $34,000. Finally, Truvestments Capital LLC bought a new stake in ServiceNow during the third quarter worth approximately $30,000. 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.