ServiceNow, Inc. (NYSE:NOW) Insider Paul John Smith Sells 2,404 Shares

ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Paul John Smith sold 2,404 shares of ServiceNow stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the sale, the insider now directly owns 6,244 shares of the company's stock, valued at approximately $6,119,432.20. This trade represents a 27.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $1,160,414.72.

ServiceNow Stock Down 3.1 %

Shares of NOW traded down $30.19 during mid-day trading on Friday, reaching $937.79. The company had a trading volume of 1,825,205 shares, compared to its average volume of 1,640,631. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50-day moving average price of $1,058.36 and a 200 day moving average price of $976.01. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a market capitalization of $193.18 billion, a price-to-earnings ratio of 137.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) 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, meeting 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 declared that its board has initiated a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Evercore ISI lifted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Citigroup decreased their price objective on ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. StockNews.com downgraded ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Finally, Guggenheim restated a "sell" rating and set a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,129.72.

Hedge Funds Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC lifted its position in ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after acquiring an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after acquiring an additional 10 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock valued at $1,025,000 after buying an additional 11 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after buying an additional 11 shares during the period. Finally, TBH Global Asset Management LLC lifted its holdings in shares of ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after buying an additional 11 shares during the period. 87.18% of the stock is owned by 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.