ServiceNow, Inc. (NYSE:NOW) Director Sells $419,340.90 in Stock

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $1,010.46, for a total value of $419,340.90. Following the completion of the transaction, the director now directly owns 1,322 shares of the company’s stock, valued at $1,335,828.12. This represents a 23.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Larry Quinlan also recently made the following trade(s):

• On Tuesday, February 4th, Larry Quinlan sold 415 shares of ServiceNow stock. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15.

ServiceNow Trading Down 0.4 %

Shares of ServiceNow stock opened at $985.67 on Friday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The stock has a market cap of $203.05 billion, a P/E ratio of 144.31, a P/E/G ratio of 4.76 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $1,073.31 and its 200-day moving average is $969.70.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has authorized a share repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently commented on NOW shares. Needham & Company LLC lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Robert W. Baird lowered their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Truist Financial lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Evercore ISI boosted their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $34,000. Finally, Truvestments Capital LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $30,000. 87.18% of the stock is 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.