Insider Selling: ServiceNow CEO Unloads 120,000 Shares of Stock (NOW)
ServiceNow (NYSE:NOW) CEO Frank Slootman sold 120,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $56.79, for a total value of $6,814,800.00. Following the transaction, the chief executive officer now directly owns 38,460 shares in the company, valued at approximately $2,184,143. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of ServiceNow (NYSE:NOW) traded down 2.04% during mid-day trading on Tuesday, hitting $56.53. The stock had a trading volume of 780,451 shares. ServiceNow has a one year low of $41.33 and a one year high of $71.80. The stock has a 50-day moving average of $59.34 and a 200-day moving average of $58.51. The company’s market cap is $8.166 billion.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.07). The company had revenue of $166.48 million for the quarter, compared to the consensus estimate of $161.53 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 62.9% on a year-over-year basis. On average, analysts predict that ServiceNow will post $-0.09 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on NOW shares. Analysts at Credit Suisse reiterated a “neutral” rating on shares of ServiceNow in a research note on Thursday, July 31st. They now have a $50.00 price target on the stock, up previously from $40.00. Separately, analysts at RBC Capital raised their price target on shares of ServiceNow from $65.00 to $70.00 in a research note on Thursday, July 31st. They now have an “outperform” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of ServiceNow from $75.00 to $78.00 in a research note on Thursday, July 31st. They now have a “positive” rating on the stock. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $65.70.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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