ServiceNow COO Unloads $2,938,500 in Stock (NOW)
ServiceNow (NYSE:NOW) COO Daniel Mcgee sold 50,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $58.77, for a total value of $2,938,500.00. Following the sale, the chief operating officer now directly owns 35,041 shares of the company’s stock, valued at approximately $2,059,360. The transaction was disclosed in a document filed with the SEC, which is available at this link.
NOW has been the subject of a number of recent research reports. Analysts at Morgan Stanley initiated coverage on shares of ServiceNow in a research note on Wednesday. They set a “buy” rating and a $74.00 price target on the stock. Separately, 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. Finally, 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. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $66.71.
ServiceNow (NYSE:NOW) traded up 0.59% during mid-day trading on Wednesday, hitting $60.08. 1,346,256 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’s 50-day moving average is $57.44 and its 200-day moving average is $57.92. The company’s market cap is $8.754 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. On average, analysts predict that ServiceNow will post $-0.08 earnings per share 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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