Insider Selling: ServiceNow SVP Sells 30,000 Shares of Stock (NOW)
ServiceNow (NYSE:NOW) SVP Daniel Mcgee sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $48.75, for a total value of $1,462,500.00. Following the transaction, the senior vice president now directly owns 34,465 shares of the company’s stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley upgraded shares of ServiceNow (NYSE:NOW) from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday. They now have a $62.00 price target on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of ServiceNow (NYSE:NOW) in a research note to investors on Friday, September 6th. They set a “buy” rating and a $55.00 price target on the stock. Finally, analysts at JMP Securities initiated coverage on shares of ServiceNow (NYSE:NOW) in a research note to investors on Wednesday, September 4th. They set an “outperform” rating and a $56.00 price target on the stock.
Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $47.94.
ServiceNow (NYSE:NOW) traded up 3.81% during mid-day trading on Wednesday, hitting $51.22. The stock had a trading volume of 2,185,496 shares. ServiceNow has a 52 week low of $25.54 and a 52 week high of $50.35. The stock’s 50-day moving average is $45.7 and its 200-day moving average is $40.6. The company’s market cap is $7.007 billion.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $102.20 million for the quarter, compared to the consensus estimate of $95.52 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 79.9% on a year-over-year basis. Analysts expect that ServiceNow will post $-0.09 EPS for the current fiscal year.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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