ServiceNow, Inc. (NYSE:NOW) Insider Jacqueline P. Canney Sells 292 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

ServiceNow Trading Down 1.3 %

NYSE NOW opened at $1,008.63 on Wednesday. The company has a market cap of $207.78 billion, a PE ratio of 147.68, a PEG ratio of 4.76 and a beta of 0.99. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a 50 day moving average of $1,079.78 and a 200-day moving average of $968.21.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently added to or reduced their stakes in NOW. Atala Financial Inc acquired a new stake in ServiceNow during the 4th quarter valued at $28,000. Truvestments Capital LLC acquired a new stake in ServiceNow during the 3rd quarter valued at $30,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the 4th quarter valued at $32,000. FPC Investment Advisory Inc. lifted its holdings in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NOW shares. Robert W. Baird lowered their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Evercore ISI increased their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup lowered their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, 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 research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.