ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer Sells 336 Shares

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 336 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at $4,408,026.60. The trade was a 7.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

ServiceNow Stock Performance

NYSE:NOW opened at $1,008.63 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $1,079.78 and a two-hundred day moving average price of $968.21. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a market capitalization of $207.78 billion, a P/E ratio of 147.68, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99.

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

ServiceNow announced that its board has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NOW. Needham & Company LLC raised their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Mizuho raised their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Jefferies Financial Group decreased their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently bought and sold shares of the stock. Zions Bancorporation N.A. grew its holdings in ServiceNow by 7.3% in the fourth quarter. Zions Bancorporation N.A. now owns 575 shares of the information technology services provider’s stock valued at $610,000 after purchasing an additional 39 shares during the period. FineMark National Bank & Trust grew its holdings in ServiceNow by 3.9% in the fourth quarter. FineMark National Bank & Trust now owns 11,532 shares of the information technology services provider’s stock valued at $12,225,000 after purchasing an additional 430 shares during the period. Ashton Thomas Securities LLC grew its holdings in ServiceNow by 3.9% in the fourth quarter. Ashton Thomas Securities LLC now owns 1,437 shares of the information technology services provider’s stock valued at $1,522,000 after purchasing an additional 54 shares during the period. TD Asset Management Inc. lifted its position in ServiceNow by 2.1% during the fourth quarter. TD Asset Management Inc. now owns 297,404 shares of the information technology services provider’s stock valued at $315,284,000 after buying an additional 6,041 shares in the last quarter. Finally, EFG Asset Management North America Corp. lifted its position in ServiceNow by 9.3% during the fourth quarter. EFG Asset Management North America Corp. now owns 5,988 shares of the information technology services provider’s stock valued at $6,346,000 after buying an additional 511 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.