ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 2,666 Shares of Stock

ServiceNow, Inc. (NYSE:NOWGet Rating) General Counsel Russell S. Elmer sold 2,666 shares of ServiceNow stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the transaction, the general counsel now directly owns 6,627 shares in the company, valued at $2,801,895.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ServiceNow Trading Down 3.3 %

NOW opened at $411.20 on Wednesday. ServiceNow, Inc. has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market cap of $83.06 billion, a P/E ratio of 451.87, a price-to-earnings-growth ratio of 8.65 and a beta of 0.94. The company has a fifty day moving average price of $456.37 and a two-hundred day moving average price of $481.28.

ServiceNow (NYSE:NOWGet Rating) last posted its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The firm’s revenue was up 24.3% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Chilton Capital Management LLC purchased a new stake in ServiceNow in the 4th quarter valued at about $25,000. OLD Second National Bank of Aurora purchased a new stake in ServiceNow in the 1st quarter valued at about $28,000. Tortoise Investment Management LLC increased its stake in ServiceNow by 55.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 22 shares during the last quarter. High Net Worth Advisory Group LLC purchased a new stake in ServiceNow in the 1st quarter valued at about $29,000. Finally, Delos Wealth Advisors LLC purchased a new stake in ServiceNow in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 87.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NOW. Sanford C. Bernstein began coverage on shares of ServiceNow in a research note on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 price objective on the stock. JMP Securities decreased their price objective on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 28th. Canaccord Genuity Group cut their target price on shares of ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Royal Bank of Canada cut their target price on shares of ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Finally, KeyCorp cut their target price on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.84.

About ServiceNow

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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