ServiceNow, Inc. (NYSE:NOW) General Counsel Sells $1,911,751.99 in Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 1,867 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the completion of the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $7,007,026.71. This represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ServiceNow Price Performance

NOW stock opened at $1,022.19 on Wednesday. The stock has a market capitalization of $210.57 billion, a price-to-earnings ratio of 158.97, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The stock’s fifty day simple moving average is $938.70 and its 200-day simple moving average is $829.46.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $1.21 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of the stock. World Investment Advisors LLC grew its stake in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the period. International Assets Investment Management LLC grew its position in ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Swedbank AB acquired a new stake in ServiceNow during the first quarter worth about $897,908,000. Bank of Montreal Can raised its holdings in shares of ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. Evercore ISI raised their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. KeyCorp raised their price objective on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Scotiabank began coverage on shares of ServiceNow in a research report on Tuesday. They set a “sector outperform” rating and a $1,230.00 target price on the stock. Truist Financial lifted their price target on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

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.