Jacqueline P. Canney Sells 66 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ServiceNow Stock Performance

NYSE NOW opened at $1,011.39 on Friday. The company’s 50 day simple moving average is $928.75 and its two-hundred day simple moving average is $821.23. The stock has a market capitalization of $208.35 billion, a PE ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66.

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

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in NOW. Creekmur Asset Management LLC purchased a new stake in ServiceNow during the first quarter valued at about $25,000. Truvestments Capital LLC bought a new position in ServiceNow during the 3rd quarter worth approximately $30,000. Versant Capital Management Inc increased its stake in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. DT Investment Partners LLC lifted its position in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Needham & Company LLC lifted their price target on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Sanford C. Bernstein boosted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial increased their price target on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Piper Sandler boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $974.04.

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.