Insider Selling: ServiceNow, Inc. (NYSE:NOW) Director Sells 415 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) Director Larry Quinlan sold 415 shares of the business’s stock in a transaction dated 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 sale, the director now owns 1,322 shares in the company, 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 accessible through this link.

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

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

ServiceNow Stock Down 2.7 %

Shares of NYSE NOW opened at $981.42 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a market capitalization of $202.17 billion, a P/E ratio of 143.69, a P/E/G ratio of 4.76 and a beta of 0.99. The company has a 50-day moving average price of $1,078.82 and a 200-day moving average price of $969.48.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NOW shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a research note on Thursday, January 30th. Scotiabank initiated coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. Canaccord Genuity Group upped their price target on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Evercore ISI upped their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently bought and sold shares of the company. Atala Financial Inc bought a new position in shares of ServiceNow during the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the 4th quarter valued at about $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the 4th quarter worth approximately $34,000. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the 3rd quarter worth approximately $30,000. Finally, FPC Investment Advisory Inc. grew its holdings in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.