Insider Selling: ServiceNow, Inc. (NYSE:NOW) Insider Sells 2,404 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Paul John Smith sold 2,404 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the sale, the insider now owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This represents a 27.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, February 14th, Paul John Smith sold 1,184 shares of ServiceNow stock. The stock was sold at an average price of $980.08, for a total transaction of $1,160,414.72.

ServiceNow Price Performance

ServiceNow stock opened at $968.19 on Friday. The stock has a market cap of $199.45 billion, a P/E ratio of 141.76, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99. The company has a fifty day simple moving average of $1,058.36 and a 200-day simple moving average of $976.01. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 net margin of 12.97% and a return on equity of 17.11%. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently bought and sold shares of NOW. Quarry LP acquired a new stake in ServiceNow during the 4th quarter worth $27,000. Atala Financial Inc acquired a new stake in ServiceNow during the 4th quarter worth $28,000. Truvestments Capital LLC acquired a new stake in ServiceNow during the 3rd quarter worth $30,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the 4th quarter worth $32,000. Finally, FPC Investment Advisory Inc. raised its stake in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NOW shares. Canaccord Genuity Group raised their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a report on Thursday, January 30th. The Goldman Sachs Group raised their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. TD Cowen increased their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

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.