Insider Selling: ServiceNow, Inc. (NYSE:NOW) Director Sells 415 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the completion of the transaction, the director now directly owns 1,737 shares of the company’s stock, valued at $1,749,871.17. This trade represents a 19.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $16.12 during trading on Wednesday, reaching $1,026.25. 1,337,119 shares of the stock traded hands, compared to its average volume of 1,722,088. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business has a fifty day simple moving average of $1,081.85 and a two-hundred day simple moving average of $961.18. The company has a market capitalization of $211.41 billion, a price-to-earnings ratio of 150.26, a P/E/G ratio of 4.74 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released 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%. Sell-side analysts expect that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a share repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of ServiceNow

A number of large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its position in ServiceNow by 8.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,134 shares of the information technology services provider’s stock worth $3,347,000 after acquiring an additional 253 shares in the last quarter. Mitchell Capital Management Co. boosted its holdings in shares of ServiceNow by 0.7% in the 4th quarter. Mitchell Capital Management Co. now owns 12,324 shares of the information technology services provider’s stock worth $13,065,000 after purchasing an additional 88 shares during the period. Duncker Streett & Co. Inc. increased its position in shares of ServiceNow by 4.8% during the 4th quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider’s stock valued at $6,759,000 after purchasing an additional 290 shares during the last quarter. Onefund LLC raised its holdings in ServiceNow by 2.0% during the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock valued at $585,000 after buying an additional 11 shares during the period. Finally, Nixon Peabody Trust Co. purchased a new position in ServiceNow during the fourth quarter worth $6,820,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NOW shares. JPMorgan Chase & Co. upped their price objective on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Mizuho boosted their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Guggenheim reiterated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective on the stock. Finally, Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Company Profile

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.