Insider Selling: Daniel Mcgee Sells 10,000 Shares of ServiceNow Stock (NOW)
ServiceNow (NYSE:NOW) COO Daniel Mcgee sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $54.77, for a total value of $547,700.00. Following the transaction, the chief operating officer now directly owns 35,041 shares in the company, valued at approximately $1,919,196. The transaction was disclosed in a filing with the SEC, which is available at this link.
ServiceNow (NYSE:NOW) traded up 3.05% during mid-day trading on Tuesday, hitting $57.71. 1,708,845 shares of the company’s stock traded hands. ServiceNow has a 1-year low of $43.52 and a 1-year high of $71.80. The stock has a 50-day moving average of $57.79 and a 200-day moving average of $58.14. The company’s market cap is $8.408 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted ($0.06) earnings per share. ServiceNow’s revenue was up 62.9% compared to the same quarter last year. On average, analysts predict that ServiceNow will post $-0.09 earnings per share for the current fiscal year.
A number of research firms have recently commented on NOW. 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 equities research 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. The stock currently has an average rating of “Buy” and a consensus 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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