Insider Selling: ServiceNow, Inc. (NOW) Insider Sells 75,000 Shares of Stock
ServiceNow, Inc. (NYSE:NOW) insider Michael Scarpelli sold 75,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.68, for a total transaction of $8,076,000.00. Following the completion of the sale, the insider now owns 252,368 shares in the company, valued at $27,174,986.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of ServiceNow, Inc. (NYSE:NOW) traded down 2.41% during trading on Thursday, reaching $106.86. The company had a trading volume of 1,245,227 shares. ServiceNow, Inc. has a 52-week low of $71.25 and a 52-week high of $115.85. The company’s market capitalization is $18.24 billion. The firm has a 50-day moving average price of $108.35 and a 200-day moving average price of $97.55.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. During the same period in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was up 38.2% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.
Several large investors have recently modified their holdings of NOW. WINTON GROUP Ltd purchased a new stake in shares of ServiceNow during the second quarter worth $262,000. Castleark Management LLC bought a new position in ServiceNow during the second quarter worth about $446,000. Raymond James Financial Services Advisors Inc. raised its position in ServiceNow by 7.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 44,307 shares of the information technology services provider’s stock worth $4,697,000 after buying an additional 3,129 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in ServiceNow by 155.7% in the second quarter. Cubist Systematic Strategies LLC now owns 66,312 shares of the information technology services provider’s stock worth $7,029,000 after buying an additional 40,381 shares in the last quarter. Finally, Steadfast Capital Management LP bought a new position in ServiceNow during the second quarter worth about $57,787,000. Institutional investors and hedge funds own 98.25% of the company’s stock.
Several analysts recently issued reports on NOW shares. Deutsche Bank AG boosted their price objective on shares of ServiceNow from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, April 28th. Zacks Investment Research upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Friday, April 28th. DA Davidson set a $118.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a report on Thursday, April 27th. Canaccord Genuity restated a “buy” rating and issued a $105.00 price objective on shares of ServiceNow in a report on Friday, April 21st. Finally, BTIG Research restated a “buy” rating on shares of ServiceNow in a report on Monday, April 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $115.96.
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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