Insider Selling: ServiceNow, Inc. (NYSE:NOW) Director Sells 15,000 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) Director Frederic B. Luddy sold 15,000 shares of the stock in a transaction that occurred on Wednesday, January 12th. The shares were sold at an average price of $577.36, for a total value of $8,660,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NOW stock opened at $531.02 on Friday. The stock has a market cap of $105.67 billion, a price-to-earnings ratio of 487.17, a PEG ratio of 10.36 and a beta of 1.01. The stock has a 50-day moving average of $635.98 and a 200-day moving average of $625.86. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42. ServiceNow, Inc. has a 1-year low of $448.27 and a 1-year high of $707.60.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 27th. The information technology services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.16. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. The business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 1.39 earnings per share for the current year.

Several brokerages recently commented on NOW. Mizuho raised their target price on ServiceNow from $650.00 to $680.00 and gave the stock a “buy” rating in a research report on Monday, October 18th. Summit Insights started coverage on ServiceNow in a research note on Tuesday, September 28th. They set a “buy” rating for the company. Argus raised their target price on ServiceNow from $760.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, November 2nd. Cowen raised their target price on ServiceNow from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. Finally, Credit Suisse Group began coverage on ServiceNow in a report on Tuesday, November 16th. They issued an “outperform” rating and a $850.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $720.90.

Several hedge funds have recently modified their holdings of NOW. BlackRock Inc. boosted its position in shares of ServiceNow by 4.2% during the 3rd quarter. BlackRock Inc. now owns 16,125,077 shares of the information technology services provider’s stock valued at $10,034,153,000 after purchasing an additional 657,340 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ServiceNow by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 15,703,111 shares of the information technology services provider’s stock valued at $8,629,644,000 after purchasing an additional 103,215 shares in the last quarter. State Street Corp boosted its position in shares of ServiceNow by 1.2% during the 2nd quarter. State Street Corp now owns 7,591,945 shares of the information technology services provider’s stock valued at $4,172,153,000 after purchasing an additional 88,975 shares in the last quarter. Morgan Stanley boosted its holdings in ServiceNow by 1.2% in the second quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $3,999,292,000 after acquiring an additional 86,441 shares in the last quarter. Finally, Polen Capital Management LLC boosted its holdings in ServiceNow by 4.7% in the second quarter. Polen Capital Management LLC now owns 3,510,696 shares of the information technology services provider’s stock worth $1,929,303,000 after acquiring an additional 156,160 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

About ServiceNow

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Insider Buying and Selling by Quarter for ServiceNow (NYSE:NOW)

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