ServiceNow CEO Unloads $7,363,200 in Stock (NOW)
ServiceNow (NYSE:NOW) CEO Frank Slootman sold 120,000 shares of ServiceNow stock on the open market in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $61.36, for a total transaction of $7,363,200.00. Following the completion of the sale, the chief executive officer now directly owns 38,460 shares of the company’s stock, valued at approximately $2,359,906. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Barclays raised their price target on shares of ServiceNow from $66.00 to $76.00 in a research note on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at Raymond James initiated coverage on shares of ServiceNow in a research note on Wednesday. They set a “market perform” rating on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of ServiceNow in a research note on Wednesday, August 27th. They set a “buy” rating and a $74.00 price target on the stock. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $67.49.
ServiceNow (NYSE:NOW) traded down 2.36% during mid-day trading on Thursday, hitting $61.26. The stock had a trading volume of 1,121,414 shares. ServiceNow has a 52 week low of $44.17 and a 52 week high of $71.80. The stock has a 50-day moving average of $57.98 and a 200-day moving average of $57.71. The company’s market cap is $8.926 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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 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. Analysts expect that ServiceNow will post $-0.08 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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