ServiceNow Insider Frederic B. Luddy Sells 151,400 Shares (NOW)
ServiceNow (NYSE:NOW) Insider Frederic B. Luddy unloaded 151,400 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $51.23, for a total value of $7,756,222.00. Following the transaction, the insider now directly owns 701,587 shares of the company’s stock, valued at approximately $35,942,302. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
ServiceNow (NYSE:NOW) traded up 4.86% during mid-day trading on Thursday, hitting $53.89. 2,883,476 shares of the company’s stock traded hands. ServiceNow has a 52 week low of $35.90 and a 52 week high of $71.80. The stock has a 50-day moving average of $50.24 and a 200-day moving average of $57.04. The company’s market cap is $7.730 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 $-0.06 earnings per share for the current fiscal year.
A number of research firms have recently commented on NOW. Analysts at Robert W. Baird initiated coverage on shares of ServiceNow in a research note on Monday. They set a “neutral” rating on the stock. Separately, 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. Finally, 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. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $63.06.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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