William R. Mcdermott Sells 384 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW - Get Free Report) CEO William R. Mcdermott sold 384 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total value of $378,869.76. Following the completion of the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,525,636.96. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

ServiceNow Price Performance

Shares of NYSE 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. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a market cap of $193.18 billion, a price-to-earnings ratio of 137.30, a PEG ratio of 4.60 and a beta of 0.99. The business's 50-day simple moving average is $1,058.36 and its 200 day simple moving average is $976.01.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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%. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has initiated a share buyback 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in ServiceNow in the fourth quarter valued at about $27,000. Atala Financial Inc bought a new position in ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow in the fourth quarter valued at about $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $34,000. Finally, Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the third quarter valued at about $30,000. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Evercore ISI boosted their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Guggenheim restated a "sell" rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Canaccord Genuity Group upped their price objective 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus 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.