Insider Selling: ServiceNow SVP Sells 25,000 Shares of Stock (NOW)
ServiceNow (NYSE:NOW) SVP Daniel Mcgee unloaded 25,000 shares of ServiceNow stock on the open market in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $59.05, for a total value of $1,476,250.00. Following the completion of the transaction, the senior vice president now directly owns 34,465 shares of the company’s stock, valued at approximately $2,035,158. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.02) by $0.03. The company had revenue of $111.30 million for the quarter, compared to the consensus estimate of $105.33 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 73.1% on a year-over-year basis.
NOW has been the subject of a number of recent research reports. Analysts at Canaccord Genuity raised their price target on shares of ServiceNow from $60.00 to $70.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital initiated coverage on shares of ServiceNow in a research note to investors on Monday. They set an “outperform” rating and a $70.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of ServiceNow from $60.00 to $65.00 in a research note to investors on Friday, January 10th. They now have an “overweight” rating on the stock. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $58.78.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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