Insider Selling: ServiceNow CFO Sells 10,000 Shares of Stock (NOW)
ServiceNow (NYSE:NOW) CFO Michael Scarpelli unloaded 10,000 shares of ServiceNow stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $52.53, for a total value of $525,300.00. Following the completion of the sale, the chief financial officer now directly owns 131,427 shares in the company, valued at approximately $6,903,860. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of ServiceNow (NYSE:NOW) traded down 1.75% on Wednesday, hitting $53.35. 2,248,358 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’s 50-day moving average is $50.07 and its 200-day moving average is $57.13. The company’s market cap is $7.652 billion.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.08) EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 61.8% on a year-over-year basis. On average, analysts predict that ServiceNow will post $-0.06 earnings per share for the current fiscal year.
NOW has been the subject of a number of recent research reports. Analysts at Stephens initiated coverage on shares of ServiceNow in a research note on Friday, May 23rd. They set an “overweight” rating on the stock. Separately, analysts at Barclays cut their price target on shares of ServiceNow from $71.00 to $63.00 in a research note on Friday, May 23rd. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of ServiceNow in a research note on Wednesday, May 21st. They set 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 given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $63.15.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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