ServiceNow (NYSE:NOW) Stock Price Down 0.2% Following Insider Selling

ServiceNow, Inc. (NYSE:NOWGet Free Report) shares dropped 0.2% on Monday after an insider sold shares in the company. The stock traded as low as $693.56 and last traded at $697.15. Approximately 263,741 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,287,375 shares. The stock had previously closed at $698.81.

Specifically, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction 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 approximately $2,521,422.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,530 shares of company stock valued at $3,997,012. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. JMP Securities restated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research note on Tuesday, May 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Morgan Stanley boosted their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Finally, Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $814.48.

View Our Latest Report on ServiceNow

ServiceNow Stock Up 1.5 %

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 firm has a market cap of $145.38 billion, a P/E ratio of 75.84, a P/E/G ratio of 4.38 and a beta of 0.96. The business has a fifty day moving average of $731.41 and a 200 day moving average of $736.30.

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

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently bought and sold shares of NOW. Creekmur Asset Management LLC bought a new stake in ServiceNow during the 1st quarter worth approximately $25,000. EntryPoint Capital LLC increased its position in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the fourth quarter worth $29,000. AdvisorNet Financial Inc lifted its position in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Sachetta LLC acquired a new position in ServiceNow in the 4th quarter worth $35,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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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