Jeffrey A. Miller Sells 2,879 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ServiceNow Trading Down 0.3 %

Shares of NYSE NOW opened at $1,045.53 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $215.38 billion, a PE ratio of 162.60, a PEG ratio of 6.02 and a beta of 0.98. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The stock has a fifty day simple moving average of $920.45 and a 200-day simple moving average of $818.12.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. On average, equities analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on NOW. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup boosted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays boosted their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Oppenheimer increased their price target on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $974.04.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NOW. Quent Capital LLC increased its position 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 acquiring an additional 30 shares during the period. Avantax Advisory Services Inc. raised its position in ServiceNow by 20.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,210 shares of the information technology services provider’s stock valued at $3,209,000 after purchasing an additional 724 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of ServiceNow by 5.0% in the 1st quarter. Bleakley Financial Group LLC now owns 4,033 shares of the information technology services provider’s stock valued at $3,075,000 after buying an additional 193 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of ServiceNow by 5.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 200,143 shares of the information technology services provider’s stock worth $152,589,000 after buying an additional 10,351 shares in the last quarter. Finally, New Insight Wealth Advisors acquired a new stake in ServiceNow in the first quarter valued at approximately $226,000. Institutional investors and hedge funds 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.