ServiceNow Shares Down 5.1% After Insider Selling (NOW)
ServiceNow (NYSE:NOW) traded down 5.1% on Thursday following insider selling activity, AnalystRatings.NET reports. The stock traded as low as $45.36 and last traded at $50.38, with a volume of 8,198,856 shares. The stock had previously closed at $53.07.
Specifically, Insider Frederic B. Luddy sold 151,400 shares of ServiceNow stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $52.57, for a total value of $7,959,098.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at B. Riley reiterated a “neutral” rating on shares of ServiceNow in a research note on Thursday. They now have a $60.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of ServiceNow from $69.00 to $70.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, 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, April 16th. 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 company. The company has a consensus rating of “Buy” and an average price target of $63.84.
The stock’s 50-day moving average is $59.04 and its 200-day moving average is $57.68. The company’s market cap is $7.038 billion.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 23rd. The company reported ($0.08) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.08). The company had revenue of $139.09 million for the quarter, compared to the consensus estimate of $134.64 million. During the same quarter last year, the company posted ($0.01) earnings per share. ServiceNow’s revenue was up 61.8% 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.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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