ServiceNow Insider Frederic B. Luddy Sells 45,000 Shares (NOW)
ServiceNow (NYSE:NOW) Insider Frederic B. Luddy sold 45,000 shares of the stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $61.66, for a total value of $2,774,700.00. Following the completion of the transaction, the insider now directly owns 501,587 shares of the company’s stock, valued at approximately $30,927,854. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on NOW shares. 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 investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. ServiceNow presently has an average rating of “Buy” and a consensus target price of $67.49.
Shares of ServiceNow (NYSE:NOW) traded down 2.36% 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’s 50-day moving average is $57.98 and its 200-day moving average is $57.71. The company’s market cap is $8.926 billion.
ServiceNow (NYSE:NOW) last announced its 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. 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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