Russell S. Elmer Sells 336 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 336 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $341,896.80. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company’s stock, valued at approximately $4,408,026.60. This trade represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

ServiceNow Stock Down 2.7 %

Shares of NYSE:NOW opened at $981.42 on Thursday. The firm has a market cap of $202.17 billion, a P/E ratio of 143.69, 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. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company’s 50-day moving average price is $1,078.82 and its two-hundred day moving average price is $969.48.

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

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NOW. McGlone Suttner Wealth Management Inc. bought a new position in shares of ServiceNow in the 3rd quarter valued at about $262,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake 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 last quarter. Thomasville National Bank boosted its stake 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 last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in ServiceNow by 14.8% during 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 during the last quarter. Finally, Paladin Wealth LLC bought a new position in ServiceNow during the 3rd quarter worth approximately $611,000. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOW. Piper Sandler increased their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Evercore ISI increased their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Scotiabank began coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Raymond James began coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective for the company. One investment 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 given a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price 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.