Larry Quinlan Sells 415 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total transaction of $419,340.90. Following the sale, the director now owns 1,322 shares of the company’s stock, valued at approximately $1,335,828.12. This represents a 23.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Larry Quinlan also recently made the following trade(s):

• On Tuesday, February 4th, Larry Quinlan sold 415 shares of ServiceNow stock. The stock was sold at an average price of $1,007.41, for a total transaction of $418,075.15.

ServiceNow Stock Performance

NYSE:NOW traded down $27.63 during mid-day trading on Wednesday, hitting $981.42. The stock had a trading volume of 1,675,373 shares, compared to its average volume of 1,647,395. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $202.17 billion, a price-to-earnings ratio of 143.69, a PEG ratio of 4.76 and a beta of 0.99. The company’s 50 day simple moving average is $1,078.82 and its 200 day simple moving average is $969.48.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved a stock buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently modified their holdings of the stock. OneAscent Financial Services LLC raised its holdings in ServiceNow by 115.4% in the 4th quarter. OneAscent Financial Services LLC now owns 491 shares of the information technology services provider’s stock valued at $521,000 after acquiring an additional 263 shares during the period. Creekmur Asset Management LLC grew its position in shares of ServiceNow by 3,206.1% in the fourth quarter. Creekmur Asset Management LLC now owns 1,091 shares of the information technology services provider’s stock valued at $1,157,000 after purchasing an additional 1,058 shares during the last quarter. Huntington National Bank increased its stake in shares of ServiceNow by 2.9% during the fourth quarter. Huntington National Bank now owns 99,234 shares of the information technology services provider’s stock worth $105,200,000 after purchasing an additional 2,807 shares during the period. Private Portfolio Partners LLC lifted its holdings in ServiceNow by 4.4% during the 4th quarter. Private Portfolio Partners LLC now owns 525 shares of the information technology services provider’s stock worth $557,000 after purchasing an additional 22 shares during the last quarter. Finally, Kesler Norman & Wride LLC boosted its stake in ServiceNow by 1.2% in the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider’s stock valued at $1,157,000 after purchasing an additional 13 shares during the period. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NOW shares. Cantor Fitzgerald started coverage on ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Truist Financial lifted their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Guggenheim restated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. Finally, Evercore ISI lifted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.