Insider Selling: Daniel Mcgee Sells 10,000 Shares of ServiceNow Stock (NOW)
ServiceNow (NYSE:NOW) SVP Daniel Mcgee sold 10,000 shares of the stock on the open market in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $50.60, for a total transaction of $506,000.00. Following the transaction, the senior vice president now directly owns 34,758 shares of the company’s stock, valued at approximately $1,758,755. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ServiceNow (NYSE:NOW) traded down 0.06% on Thursday, hitting $53.26. The stock had a trading volume of 1,716,059 shares. ServiceNow has a 52 week low of $35.21 and a 52 week high of $71.80. The stock has a 50-day moving average of $61.37 and a 200-day moving average of $57.63. The company’s market cap is $7.515 billion.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The company reported ($0.02) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.01) by $0.01. The company had revenue of $125.20 million for the quarter, compared to the consensus estimate of $120.25 million. ServiceNow’s revenue was up 66.5% compared to the same quarter last year. On average, analysts predict that ServiceNow will post $-0.05 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on NOW shares. Analysts at Robert W. Baird cut their price target on shares of ServiceNow from $70.00 to $65.00 in a research note on Wednesday. Separately, analysts at Evercore Partners upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating in a research note on Friday, April 4th. They now have a $68.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. Finally, analysts at B. Riley initiated coverage on shares of ServiceNow in a research note on Friday, March 7th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and a consensus price target of $63.97.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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