Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells 1,184 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Paul John Smith sold 1,184 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $980.08, for a total value of $1,160,414.72. Following the transaction, the insider now directly owns 4,204 shares of the company’s stock, valued at $4,120,256.32. The trade was a 21.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Paul John Smith also recently made the following trade(s):

• On Tuesday, February 18th, Paul John Smith sold 2,404 shares of ServiceNow stock. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20.

ServiceNow Price Performance

NOW stock opened at $986.61 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a 50-day moving average of $1,061.97 and a 200 day moving average of $976.06. The company has a market cap of $203.24 billion, a P/E ratio of 144.45, a PEG ratio of 4.59 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a share buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on NOW shares. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Guggenheim restated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Oppenheimer upped their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Institutional Trading of ServiceNow

A number of hedge funds and other institutional investors have recently modified their holdings of the business. OLD National Bancorp IN grew its holdings in ServiceNow by 2.8% in the third quarter. OLD National Bancorp IN now owns 597 shares of the information technology services provider’s stock worth $534,000 after purchasing an additional 16 shares during the period. Vest Financial LLC boosted its position in shares of ServiceNow by 205.8% in the 3rd quarter. Vest Financial LLC now owns 994 shares of the information technology services provider’s stock worth $889,000 after purchasing an additional 669 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of ServiceNow by 59.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 662 shares of the information technology services provider’s stock worth $592,000 after purchasing an additional 247 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of ServiceNow by 19.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider’s stock worth $558,000 after buying an additional 101 shares during the last quarter. Finally, Oakworth Capital Inc. increased its position in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares in the last quarter. 87.18% of the stock is 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.