Insider Selling: Michael Scarpelli Sells 10,000 Shares of ServiceNow Stock (NOW)
ServiceNow (NYSE:NOW) CFO Michael Scarpelli unloaded 10,000 shares of the stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the sale, the chief financial officer now directly owns 131,427 shares of the company’s stock, valued at approximately $7,885,620. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on NOW shares. Analysts at DA Davidson initiated coverage on shares of ServiceNow in a research note on Tuesday. They set a “buy” rating and a $74.00 price target on the stock. Separately, 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. Finally, 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. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $66.11.
ServiceNow (NYSE:NOW) traded up 1.55% on Tuesday, hitting $59.73. 1,039,000 shares of the company’s stock traded hands. ServiceNow has a 1-year low of $44.17 and a 1-year high of $71.80. The stock has a 50-day moving average of $57.33 and a 200-day moving average of $57.91. The company’s market cap is $8.703 billion.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 62.9% on a year-over-year basis. Analysts expect that ServiceNow will post $-0.09 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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