Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells $652,848.00 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ServiceNow Stock Performance

ServiceNow stock opened at $827.14 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $850.33. The stock has a fifty day moving average of $770.45 and a two-hundred day moving average of $757.41. The company has a market capitalization of $169.56 billion, a price-to-earnings ratio of 88.46, a PEG ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 6.84 EPS for the current fiscal year.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of the company. Argonautica Private Wealth Management Inc. grew its stake in ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after acquiring an additional 13 shares during the period. Morling Financial Advisors LLC boosted its holdings in shares of ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the period. Optas LLC increased its stake in ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its position in ServiceNow by 5.5% during the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. JMP Securities boosted their target price on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. Wolfe Research restated an “outperform” rating and issued a $830.00 price target on shares of ServiceNow in a research note on Friday, May 10th. Finally, Stifel Nicolaus increased their price objective on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $849.62.

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.