ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 81 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 81 shares of ServiceNow stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the transaction, the general counsel now directly owns 6,843 shares in the company, valued at approximately $6,956,183.22. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ServiceNow Stock Up 1.7 %

Shares of NYSE:NOW opened at $1,022.19 on Wednesday. The company has a market capitalization of $210.57 billion, a P/E ratio of 158.97, a P/E/G ratio of 5.80 and a beta of 0.98. The stock’s fifty day simple moving average is $938.70 and its 200-day simple moving average is $829.46. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Piper Sandler boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. JMP Securities boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Mizuho boosted their target price on ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC increased its stake in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC increased its stake in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the last quarter. AXA S.A. increased its stake in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new stake in ServiceNow during the second quarter worth about $2,679,000. Finally, Brookstone Capital Management increased its stake in ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after acquiring an additional 2,928 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.