ServiceNow, Inc. (NYSE:NOW) Director Sells $5,717,920.00 in Stock
ServiceNow, Inc. (NYSE:NOW) Director Frederic B. Luddy sold 52,000 shares of ServiceNow stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $109.96, for a total value of $5,717,920.00. Following the sale, the director now directly owns 11,190 shares of the company’s stock, valued at approximately $1,230,452.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of ServiceNow, Inc. (NOW) traded down 0.60% during mid-day trading on Wednesday, hitting $110.12. The company had a trading volume of 1,501,603 shares. The firm has a 50-day moving average price of $106.40 and a 200 day moving average price of $93.92. The firm’s market capitalization is $18.69 billion. ServiceNow, Inc. has a 12 month low of $70.11 and a 12 month high of $113.01.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by $0.02. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The firm had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $409.26 million. During the same period in the previous year, the business earned $0.09 earnings per share. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.
A number of research firms recently commented on NOW. UBS AG reaffirmed a “buy” rating and set a $110.00 target price (up previously from $101.00) on shares of ServiceNow in a report on Friday, April 28th. BidaskClub downgraded ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Deutsche Bank AG lifted their target price on ServiceNow from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Stifel Nicolaus lifted their target price on ServiceNow from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, DA Davidson set a $118.00 target price on ServiceNow and gave the stock a “buy” rating in a report on Thursday, April 27th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $106.04.
A number of institutional investors have recently added to or reduced their stakes in NOW. Global X Management Co. LLC increased its position in ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 330 shares during the last quarter. Hartford Financial Management Inc. bought a new position in ServiceNow during the first quarter valued at $125,000. TLP Group LLC bought a new position in ServiceNow during the first quarter valued at $131,000. Crow Point Partners LLC increased its position in ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock valued at $140,000 after buying an additional 107 shares during the last quarter. Finally, First Personal Financial Services increased its position in ServiceNow by 37.5% in the first quarter. First Personal Financial Services now owns 1,623 shares of the information technology services provider’s stock valued at $142,000 after buying an additional 443 shares during the last quarter. 97.59% of the stock is owned by institutional investors.
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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