ServiceNow, Inc. (NYSE:NOW) Director Sells $419,340.90 in Stock

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the completion of the sale, the director now owns 1,322 shares of the company’s stock, valued at approximately $1,335,828.12. This trade represents a 23.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Larry Quinlan also recently made the following trade(s):

• On Tuesday, February 4th, Larry Quinlan sold 415 shares of ServiceNow stock. The shares were sold at an average price of $1,007.41, for a total transaction of $418,075.15.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $27.63 during mid-day trading on Wednesday, reaching $981.42. 1,675,373 shares of the stock were exchanged, compared to its average volume of 1,647,395. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a market cap of $202.17 billion, a price-to-earnings ratio of 143.69, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The firm has a 50-day simple moving average of $1,078.82 and a 200 day simple moving average of $969.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has authorized a share buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently bought and sold shares of the business. Atala Financial Inc bought a new position in shares of ServiceNow in the fourth quarter valued at about $28,000. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the third quarter worth approximately $30,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $32,000. FPC Investment Advisory Inc. grew its stake in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter worth approximately $34,000. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NOW. Mizuho raised their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. The Goldman Sachs Group raised their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Truist Financial boosted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Piper Sandler raised their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Citigroup cut their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.