ServiceNow, Inc. (NYSE:NOW) executive sells $315,604.80 worth of stock

ServiceNow, Inc. (NYSE:NOW – Get Rating) chief Lawrence Jackson sold 707 shares of the company in a trade that took place on Friday, July 29. The shares were sold at an average price of $446.40, for a total transaction of $315,604.80. Following the transaction, the director now owns 660 shares of the company, valued at $294,624. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link.

ServiceNow price performance

Shares of NOW traded at $6.60 midday on Monday, hitting $453.26. The stock recorded a trading volume of 60,957 shares, compared to an average volume of 1,805,561 shares. The company has a market capitalization of $90.86 billion, a price/earnings ratio of 495.63, a PEG ratio of 9.21 and a beta of 0.94. ServiceNow, Inc. has a 12 month minimum of $406.47 and a 12 month maximum of $707.60. The company has a fifty-day moving average of $463.62 and a 200-day moving average of $505.32. The company has a debt ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12.

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ServiceNow (NYSE:NOW – Get Rating) last released its results on Wednesday, July 27. The information technology service provider reported earnings per share of $1.62 for the quarter, beating analysts’ consensus estimate of $1.53 by $0.09. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. The company posted revenue of $1.75 billion in the quarter, compared to analysts’ estimates of $1.76 billion. In the same quarter a year earlier, the company earned $0.38 per share. ServiceNow revenue for the quarter increased 24.3% year over year. Stock analysts predict that ServiceNow, Inc. will post EPS of 1.7 for the current year.

Changes to analyst ratings

Several research analysts have recently published reports on NOW stocks. KeyCorp lowered its price target on ServiceNow shares from $567.00 to $520.00 and set an “overweight” rating for the company in a report released Thursday. JMP Securities lowered its price target on ServiceNow shares from $705.00 to $553.00 and set a “market outperformance” rating for the company in a report released Thursday. Royal Bank of Canada reissued a “hold” rating on ServiceNow shares in a research note on Thursday. Barclays lowered its price target on ServiceNow shares from $560.00 to $495.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets cut its target price on ServiceNow shares from $520.00 to $497.00 and set a “hold” rating for the company in a report released Thursday. Two research analysts have assigned the stock a sell rating, two have assigned a hold rating and twenty-one have assigned the stock a buy rating. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $589.90.

Hedge funds weigh on ServiceNow

Hedge funds and other institutional investors have recently changed their stock holdings. Chilton Capital Management LLC bought a new position in shares of ServiceNow during the fourth quarter at a value of $25,000. OLD Second National Bank of Aurora bought a new position in shares of ServiceNow during the first quarter for a value of $28,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow during the first quarter valued at $29,000. AHL Investment Management Inc. acquired a new stake in ServiceNow during the fourth quarter valued at $35,000. Finally, Lee Financial Co increased its stake in ServiceNow by 671.4% during the fourth quarter. Lee Financial Co now owns 54 shares of the information technology service provider valued at $35,000 after buying 47 more shares last quarter. Institutional investors hold 87.20% of the company’s shares.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, consolidate, manage and automate services for businesses worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management, data benchmarking, encryption, and collaboration and development tools.

See also

Insider buying and selling by quarter for ServiceNow (NYSE: NOW)

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