Insider Selling: David Schneider Sells 31,000 Shares of ServiceNow Stock (NOW)
ServiceNow (NYSE:NOW) SVP David Schneider unloaded 31,000 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $52.02, for a total transaction of $1,612,620.00. Following the completion of the sale, the senior vice president now directly owns 33,742 shares of the company’s stock, valued at approximately $1,755,259. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
ServiceNow (NYSE:NOW) traded down 0.06% on Friday, hitting $53.26. The stock had a trading volume of 1,716,059 shares. ServiceNow has a one year low of $35.21 and a one year high of $71.80. The stock’s 50-day moving average is $61.37 and its 200-day moving average is $57.63. The company’s market cap is $7.515 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the 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. The company’s revenue for the quarter was up 66.5% on a year-over-year basis. Analysts expect that ServiceNow will post $-0.05 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. ServiceNow presently has an average rating of “Buy” and a consensus target price of $63.97.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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