ServiceNow (NYSE:NOW) Trading Down 0.4% Following Insider Selling

ServiceNow, Inc. (NYSE:NOWGet Free Report)’s stock price fell 0.4% on Monday after an insider sold shares in the company. The company traded as low as $653.15 and last traded at $654.21. 571,765 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,258,459 shares. The stock had previously closed at $656.93.

Specifically, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the transaction, the chief financial officer now directly owns 13,290 shares in the company, valued at approximately $9,819,715.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders sold 5,315 shares of company stock valued at $3,846,512 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. UBS Group reduced their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Robert W. Baird boosted their price objective on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, KeyCorp reduced their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $814.48.

Check Out Our Latest Report on ServiceNow

ServiceNow Price Performance

The firm has a 50 day simple moving average of $738.26 and a 200-day simple moving average of $735.18. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a market cap of $135.32 billion, a PE ratio of 70.60, a price-to-earnings-growth ratio of 4.12 and a beta of 0.96.

ServiceNow (NYSE:NOWGet Free Report) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. As a group, research analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently added to or reduced their stakes in the business. Sandbox Financial Partners LLC boosted its holdings in ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after acquiring an additional 66 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after purchasing an additional 49,631 shares during the period. Raymond James & Associates lifted its holdings in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the period. Smithfield Trust Co lifted its holdings in shares of ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 262 shares during the period. Finally, Dohj LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $913,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

(Get Free Report)

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.

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