Insider Selling: Michael Scarpelli Sells 20,000 Shares of ServiceNow Stock (NOW)
ServiceNow (NYSE:NOW) CFO Michael Scarpelli unloaded 20,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $51.31, for a total transaction of $1,026,200.00. Following the completion of the transaction, the chief financial officer now directly owns 150,889 shares of the company’s stock, valued at approximately $7,742,115. The transaction was disclosed in a filing with the SEC, which is available at this link.
NOW has been the subject of a number of recent research reports. Analysts at Janney Montgomery Scott initiated coverage on shares of ServiceNow in a research note to investors on Tuesday, October 8th. They set a “neutral” rating and a $53.25 price target on the stock. Separately, analysts at Barclays raised their price target on shares of ServiceNow from $52.00 to $60.00 in a research note to investors on Monday, October 7th. They now have an “overweight” rating on the stock. Finally, analysts at Northland Securities upgraded shares of ServiceNow from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, October 4th. They now have a $62.00 price target on the stock, up previously from $42.50. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $52.14.
ServiceNow (NYSE:NOW) traded up 4.35% on Wednesday, hitting $51.85. The stock had a trading volume of 1,204,948 shares. ServiceNow has a one year low of $25.54 and a one year high of $55.46. The stock’s 50-day moving average is $50.12 and its 200-day moving average is $42.80. The company’s market cap is $7.093 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.06) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.12) earnings per share. ServiceNow’s revenue was up 79.9% compared to the same quarter last year. 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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