ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott Sells 12,271 Shares

ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ServiceNow Trading Up 0.9 %

Shares of NOW stock traded up $9.45 on Friday, hitting $1,056.50. 236,410 shares of the stock traded hands, compared to its average volume of 1,279,542. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The stock has a market capitalization of $217.64 billion, a PE ratio of 163.04, a PEG ratio of 5.87 and a beta of 0.98. The firm’s 50-day moving average price is $944.90 and its two-hundred day moving average price is $832.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its quarterly 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 business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the first quarter worth approximately $25,000. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter valued at $30,000. Versant Capital Management Inc lifted its position in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. DT Investment Partners LLC increased its position in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Finally, EntryPoint Capital LLC raised its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent research reports. Scotiabank began coverage on shares of ServiceNow in a research report on Tuesday. They set a “sector outperform” rating and a $1,230.00 price target for the company. TD Cowen boosted their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Piper Sandler lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company increased their price target on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

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.