ServiceNow Insider Sells $2,556,450 in Stock (NOW)
ServiceNow (NYSE:NOW) Insider Frederic B. Luddy sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $56.81, for a total value of $2,556,450.00. Following the completion of the transaction, the insider now directly owns 701,587 shares in the company, valued at approximately $39,857,157. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ServiceNow (NYSE:NOW) traded up 2.99% during mid-day trading on Friday, hitting $59.20. The stock had a trading volume of 1,869,062 shares. ServiceNow has a 1-year low of $37.23 and a 1-year high of $71.80. The stock’s 50-day moving average is $50.78 and its 200-day moving average is $57.20. The company’s market cap is $8.491 billion.
ServiceNow (NYSE:NOW) last posted its quarterly 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. Analysts expect that ServiceNow will post $-0.06 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird initiated coverage on shares of ServiceNow in a research note on Monday, June 2nd. 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 analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and an average 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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