Russell S. Elmer Sells 336 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW - Get Free Report) General Counsel Russell S. Elmer sold 336 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $341,896.80. Following the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,408,026.60. This represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

ServiceNow Stock Down 0.4 %

NOW traded down $3.81 on Friday, hitting $985.67. 1,502,276 shares of the company were exchanged, compared to its average volume of 1,639,834. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. 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 stock's fifty day moving average is $1,073.31 and its 200-day moving average is $969.70. The company has a market cap of $203.05 billion, a PE ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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ServiceNow announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. StockNews.com downgraded ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday. Raymond James started coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 price objective on the stock. Morgan Stanley lowered shares of ServiceNow from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Canaccord Genuity Group upped their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, TD Cowen lifted their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,129.72.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new position in ServiceNow during the fourth quarter worth $28,000. Truvestments Capital LLC acquired a new position in shares of ServiceNow in the third quarter valued at $30,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the 4th quarter worth about $32,000. Finally, FPC Investment Advisory Inc. boosted its holdings in shares of 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 buying an additional 29 shares during the period. 87.18% of the stock is owned by institutional investors.

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.