Russell S. Elmer Sells 1,867 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) General Counsel Russell S. Elmer sold 1,867 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the transaction, the general counsel now directly owns 6,843 shares in the company, valued at approximately $7,007,026.71. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

ServiceNow Stock Up 0.1 %

NOW stock opened at $1,022.98 on Thursday. The company’s 50 day moving average is $941.65 and its two-hundred day moving average is $830.81. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $210.73 billion, a P/E ratio of 159.10, a PEG ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. Research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the first quarter worth $25,000. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. DT Investment Partners LLC increased its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Finally, EntryPoint Capital LLC increased its position in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NOW. JPMorgan Chase & Co. lifted their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. JMP Securities raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.39.

ServiceNow Company Profile

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.