Insider Selling: ServiceNow, Inc. (NYSE:NOW) CEO Sells 12,271 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

ServiceNow Price Performance

NYSE:NOW opened at $1,060.60 on Friday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,064.59. The stock’s fifty day moving average is $948.53 and its two-hundred day moving average is $835.49. The company has a market capitalization of $218.48 billion, a P/E ratio of 164.95, a P/E/G ratio of 6.01 and a beta of 0.98. 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 issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the firm earned $1.21 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NOW shares. Stifel Nicolaus upped their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Truist Financial raised their price target on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Mizuho boosted their price objective on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $986.39.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently made changes to their positions in the stock. World Investment Advisors LLC increased its holdings in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Swedbank AB purchased a new stake in shares of ServiceNow in the 1st quarter valued at $897,908,000. Bank of Montreal Can lifted its stake in ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after acquiring an additional 935,848 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.