ServiceNow Inc (NOW) Director Sells $5,673,200.00 in Stock

ServiceNow Inc (NYSE:NOW) Director Frederic B. Luddy sold 32,500 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $174.56, for a total transaction of $5,673,200.00. Following the completion of the transaction, the director now owns 282,383 shares of the company’s stock, valued at approximately $49,292,776.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NOW stock traded up $9.48 during trading on Friday, hitting $184.45. The company had a trading volume of 2,940,500 shares, compared to its average volume of 1,894,726. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.28. ServiceNow Inc has a 12 month low of $112.84 and a 12 month high of $206.29. The stock has a market capitalization of $34.81 billion, a PE ratio of -175.04, a price-to-earnings-growth ratio of 46.45 and a beta of 1.23.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The firm had revenue of $631.05 million during the quarter, compared to analysts’ expectations of $616.68 million. During the same quarter in the previous year, the company posted $0.22 EPS. ServiceNow’s revenue was up 40.8% on a year-over-year basis. As a group, equities analysts expect that ServiceNow Inc will post 0.16 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Peregrine Capital Management LLC raised its position in ServiceNow by 0.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 97,301 shares of the information technology services provider’s stock worth $16,782,000 after purchasing an additional 284 shares during the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC grew its holdings in ServiceNow by 4.8% during the 2nd quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 6,505 shares of the information technology services provider’s stock worth $1,122,000 after acquiring an additional 300 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in ServiceNow by 33.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,228 shares of the information technology services provider’s stock worth $212,000 after acquiring an additional 305 shares during the period. Chesapeake Wealth Management grew its holdings in ServiceNow by 24.9% during the 2nd quarter. Chesapeake Wealth Management now owns 1,680 shares of the information technology services provider’s stock worth $290,000 after acquiring an additional 335 shares during the period. Finally, Boston Family Office LLC grew its holdings in ServiceNow by 10.0% during the 2nd quarter. Boston Family Office LLC now owns 3,840 shares of the information technology services provider’s stock worth $662,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 95.83% of the company’s stock.

A number of research firms have recently issued reports on NOW. Royal Bank of Canada reiterated a “buy” rating and issued a $205.00 target price on shares of ServiceNow in a research note on Thursday, July 26th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $163.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, July 26th. Stifel Nicolaus lifted their target price on shares of ServiceNow from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. KeyCorp lifted their target price on shares of ServiceNow from $194.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Finally, Credit Suisse Group lifted their target price on shares of ServiceNow from $180.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $201.58.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Insider Buying and Selling by Quarter for ServiceNow (NYSE:NOW)

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