ServiceNow, Inc. (NYSE:NOW) CFO Sells $4,285,197.40 in Stock

ServiceNow, Inc. (NYSE:NOW) CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ServiceNow Stock Performance

NYSE:NOW traded down $5.45 during mid-day trading on Tuesday, reaching $922.14. 2,143,324 shares of the stock were exchanged, compared to its average volume of 1,661,045. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a 50 day simple moving average of $1,050.62 and a 200-day simple moving average of $980.72. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $189.96 billion, a P/E ratio of 135.01, a P/E/G ratio of 4.51 and a beta of 0.99.

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

ServiceNow announced that its board has authorized a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on NOW. Redburn Atlantic began coverage on ServiceNow in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. Canaccord Genuity Group increased their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group decreased their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Robert W. Baird decreased their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group increased 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. One research 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 given a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Institutional Trading of ServiceNow

Hedge funds have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $34,000. Finally, Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $30,000. 87.18% of the stock is owned by institutional investors and hedge funds.

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.