ServiceNow (NOW) Shares Down 5.4% on Insider Selling

Shares of ServiceNow Inc (NYSE:NOW) traded down 5.4% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $259.27 and last traded at $260.12. 2,483,178 shares traded hands during trading, an increase of 24% from the average session volume of 1,996,404 shares. The stock had previously closed at $274.90.

Specifically, insider Patricia L. Wadors sold 3,830 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $232.77, for a total transaction of $891,509.10. Following the sale, the insider now owns 6,451 shares in the company, valued at $1,501,599.27. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Anita M. Sands sold 1,304 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $235.00, for a total transaction of $306,440.00. Following the sale, the director now owns 9,571 shares in the company, valued at approximately $2,249,185. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,481 shares of company stock worth $23,570,054. Corporate insiders own 1.00% of the company’s stock.

A number of research firms have recently commented on NOW. Piper Jaffray Companies increased their price target on shares of ServiceNow from $230.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Royal Bank of Canada increased their price target on shares of ServiceNow to $270.00 and gave the company a “top pick” rating in a report on Thursday, April 25th. Northland Securities reiterated a “buy” rating and set a $280.00 price target on shares of ServiceNow in a report on Thursday, May 2nd. Barclays increased their price target on shares of ServiceNow from $235.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Deutsche Bank increased their price target on shares of ServiceNow from $285.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the stock. ServiceNow currently has a consensus rating of “Buy” and an average price target of $268.24.



The stock has a market cap of $48.99 billion, a price-to-earnings ratio of 1,360.35, a P/E/G ratio of 19.95 and a beta of 1.45. The company has a current ratio of 1.13, a quick ratio of 1.17 and a debt-to-equity ratio of 0.88.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. The company had revenue of $788.93 million for the quarter, compared to the consensus estimate of $768.09 million. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 earnings per share. On average, equities analysts forecast that ServiceNow Inc will post 0.48 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Financial Gravity Wealth Inc. bought a new position in ServiceNow during the first quarter valued at approximately $25,000. Sandy Spring Bank raised its position in ServiceNow by 118.0% in the first quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 59 shares during the period. Spectrum Management Group Inc. bought a new position in ServiceNow in the first quarter worth approximately $37,000. Knuff & Co LLC bought a new position in ServiceNow in the first quarter worth approximately $37,000. Finally, We Are One Seven LLC bought a new position in ServiceNow in the fourth quarter worth approximately $27,000. Institutional investors own 94.56% of the company’s stock.

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ServiceNow Company Profile (NYSE:NOW)

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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