ServiceNow, Inc. (NOW) Director Sells $19,144,950.00 in Stock
ServiceNow, Inc. (NYSE:NOW) Director Frederic B. Luddy sold 165,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $116.03, for a total value of $19,144,950.00. Following the transaction, the director now owns 29,990 shares in the company, valued at approximately $3,479,739.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
ServiceNow, Inc. (NYSE:NOW) traded up 0.13% during mid-day trading on Friday, reaching $116.11. 1,001,619 shares of the company’s stock were exchanged. The company has a 50-day moving average of $111.18 and a 200-day moving average of $100.61. The stock’s market cap is $19.82 billion. ServiceNow, Inc. has a 52-week low of $72.80 and a 52-week high of $118.64.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. The company’s revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post $1.17 earnings per share for the current year.
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NOW has been the topic of several recent analyst reports. BidaskClub cut ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Stifel Nicolaus started coverage on ServiceNow in a report on Tuesday, June 6th. They set a “buy” rating for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $110.00 target price on shares of ServiceNow in a report on Monday, May 29th. Citigroup Inc. reaffirmed a “buy” rating and set a $135.00 target price (up from $109.00) on shares of ServiceNow in a report on Saturday, July 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 target price (up from $110.00) on shares of ServiceNow in a report on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $117.40.
Institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its stake in shares of ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after purchasing an additional 245 shares in the last quarter. Barrett Asset Management LLC purchased a new position in ServiceNow during the second quarter valued at approximately $117,000. Crow Point Partners LLC grew its stake in ServiceNow by 8.8% during 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 acquiring an additional 107 shares in the last quarter. Global X Management Co. LLC grew its stake in ServiceNow by 30.6% during 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 acquiring an additional 330 shares in the last quarter. Finally, TLP Group LLC purchased a new position in ServiceNow during the first quarter valued at approximately $131,000.
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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