Nicholas Tzitzon Sells 313 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Nicholas Tzitzon sold 313 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ServiceNow Price Performance

NYSE:NOW opened at $1,041.40 on Friday. The firm has a market capitalization of $214.53 billion, a price-to-earnings ratio of 161.96, a P/E/G ratio of 5.98 and a beta of 0.98. 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 stock has a fifty day moving average of $960.84 and a 200 day moving average of $843.79. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,072.84.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. On average, research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NOW shares. TD Cowen increased their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Piper Sandler increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group lifted their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Truist Financial increased their price target on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $989.07.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in NOW. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after buying an additional 765 shares in the last quarter. AXA S.A. lifted its position in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after buying an additional 4,271 shares during the last quarter. HWG Holdings LP purchased a new stake in ServiceNow in the second quarter worth approximately $2,679,000. Finally, Brookstone Capital Management grew its position in ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock valued at $10,595,000 after acquiring an additional 2,928 shares during the last quarter. 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.