ServiceNow, Inc. (NYSE:NOW) CEO Sells $1,287,123.30 in Stock

ServiceNow, Inc. (NYSE:NOW) CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ServiceNow Price Performance

NOW stock opened at $989.70 on Friday. The company has a market capitalization of $203.88 billion, a P/E ratio of 144.90, a PEG ratio of 4.76 and a beta of 0.99. The company has a fifty day moving average price of $1,075.99 and a 200-day moving average price of $969.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of ServiceNow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of ServiceNow during the third quarter worth $262,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in ServiceNow by 1,929.2% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,409 shares of the information technology services provider’s stock worth $3,049,000 after acquiring an additional 3,241 shares during the period. Thomasville National Bank grew its holdings in ServiceNow by 9.3% during the 3rd quarter. Thomasville National Bank now owns 15,305 shares of the information technology services provider’s stock worth $13,689,000 after acquiring an additional 1,307 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of ServiceNow by 14.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 729 shares of the information technology services provider’s stock worth $652,000 after acquiring an additional 94 shares in the last quarter. Finally, Paladin Wealth LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at about $611,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOW. Evercore ISI lifted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein upped their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC increased their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Raymond James initiated coverage on ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. Finally, Barclays increased their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

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.