Insider Selling: Michael Scarpelli Sells 60,000 Shares of ServiceNow Stock (NOW)
ServiceNow (NYSE:NOW) CFO Michael Scarpelli unloaded 60,000 shares of ServiceNow stock on the open market in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $58.97, for a total transaction of $3,538,200.00. Following the completion of the transaction, the chief financial officer now directly owns 131,427 shares of the company’s stock, valued at approximately $7,750,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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 research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $63.06.
ServiceNow (NYSE:NOW) traded up 0.07% during mid-day trading on Tuesday, hitting $60.00. 1,787,368 shares of the company’s stock traded hands. 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 $51.41 and its 200-day moving average is $57.31. The company’s market cap is $8.606 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. Analysts expect that ServiceNow will post $-0.06 EPS 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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