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

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction dated 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 sale, the general counsel now owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ServiceNow Trading Up 1.7 %

NYSE:NOW opened at $1,022.19 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $938.70 and its two-hundred day 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 market cap of $210.57 billion, a PE ratio of 158.97, a P/E/G ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. On average, analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research analyst reports. KeyCorp upped their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Truist Financial increased their target price on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Oppenheimer increased their target price on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Evercore ISI increased their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.39.

Institutional Trading of ServiceNow

Institutional investors and hedge funds have recently made changes to their positions in the stock. Avidian Wealth Enterprises LLC raised its position in shares of ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC raised its position in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. AXA S.A. raised its position in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the period. HWG Holdings LP acquired a new stake in shares of ServiceNow during the 2nd quarter worth approximately $2,679,000. Finally, Brookstone Capital Management raised its position in shares of ServiceNow by 25.5% during the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after purchasing an additional 2,928 shares during the period. 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.