ServiceNow, Inc. (NYSE:NOW) Insider Sells $1,160,414.72 in Stock

ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Paul John Smith sold 1,184 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $980.08, for a total transaction of $1,160,414.72. Following the transaction, the insider now directly owns 4,204 shares in the company, valued at $4,120,256.32. The trade was a 21.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 Trading Down 3.1 %

Shares of NYSE:NOW traded down $30.19 during trading on Friday, reaching $937.79. The stock had a trading volume of 1,825,205 shares, compared to its average volume of 1,640,631. The business has a fifty day moving average price of $1,058.36 and a 200-day moving average price of $976.01. 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 cap of $193.18 billion, a P/E ratio of 137.30, a PEG ratio of 4.60 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting 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, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of NOW. Polymer Capital Management HK LTD increased its position in ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after purchasing an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the fourth quarter worth approximately $48,802,000. Dock Street Asset Management Inc. increased its position in ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock worth $35,147,000 after purchasing an additional 1,105 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after purchasing an additional 138 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after purchasing an additional 765 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Oppenheimer lifted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. TD Cowen lifted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Finally, Guggenheim reaffirmed a "sell" rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,129.72.

About ServiceNow

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.