Insider Selling: ServiceNow CFO Sells 10,000 Shares of Stock (NOW)
ServiceNow (NYSE:NOW) CFO Michael Scarpelli unloaded 10,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $52.50, for a total value of $525,000.00. Following the transaction, the chief financial officer now directly owns 131,427 shares in the company, valued at approximately $6,899,918. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of ServiceNow (NYSE:NOW) traded down 0.06% on Friday, hitting $53.26. 1,716,059 shares of the company’s stock traded hands. ServiceNow has a 1-year low of $35.21 and a 1-year 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 issued its quarterly earnings data on Wednesday, January 29th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters 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 quarterly revenue was up 66.5% on a year-over-year basis. 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 issued a strong buy rating to the stock. ServiceNow has a consensus rating of “Buy” and an average 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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