ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
ServiceNow Stock Down 3.1 %
Shares of NYSE NOW opened at $772.18 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $857.67 and a 200 day moving average price of $970.18. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The stock has a market capitalization of $159.84 billion, a price-to-earnings ratio of 113.06, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08.
ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.
ServiceNow announced that its board has approved a share buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on NOW shares. Royal Bank of Canada set a $986.00 price target on ServiceNow in a research note on Tuesday, March 11th. StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Robert W. Baird cut their price objective on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group lowered their target price on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Scotiabank cut their price target on shares of ServiceNow from $1,230.00 to $1,050.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,057.17.
Read Our Latest Research Report on NOW
Institutional Trading of ServiceNow
Several large investors have recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new stake in ServiceNow in the 4th quarter valued at about $48,802,000. Dock Street Asset Management Inc. grew its position in shares of ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after purchasing an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $105,090,000. Rheos Capital Works Inc. acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $10,071,000. Finally, Czech National Bank lifted its stake in ServiceNow by 6.7% in the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock valued at $47,486,000 after buying an additional 2,829 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.
About ServiceNow
(
Get Free Report)
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.
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