ServiceNow, Inc. (NYSE:NOW) Insider Kevin Thomas Mcbride Sells 100 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $102,397.00. Following the transaction, the insider now directly owns 3,457 shares of the company’s stock, valued at $3,539,864.29. This represents a 2.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ServiceNow Stock Up 1.7 %

NOW opened at $1,022.19 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month 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. The business has a 50 day moving average price of $938.70 and a 200 day moving average price of $829.46. The firm has a market cap of $210.57 billion, a P/E ratio of 158.97, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98.

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

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC lifted its holdings in shares of ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after buying an additional 30 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in ServiceNow in the 1st quarter worth $210,000. Bahl & Gaynor Inc. increased its holdings in shares of ServiceNow by 71.9% during the 1st quarter. Bahl & Gaynor Inc. now owns 806 shares of the information technology services provider’s stock worth $614,000 after purchasing an additional 337 shares during the period. Seven Eight Capital LP raised its position in shares of ServiceNow by 9.4% during the first quarter. Seven Eight Capital LP now owns 1,222 shares of the information technology services provider’s stock valued at $932,000 after buying an additional 105 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its position in ServiceNow by 97.2% during the first quarter. Lake Street Advisors Group LLC now owns 2,021 shares of the information technology services provider’s stock worth $1,540,000 after buying an additional 996 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. UBS Group boosted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Piper Sandler boosted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.