ServiceNow, Inc. (NOW) CRO Sells $2,030,709.29 in Stock
ServiceNow, Inc. (NYSE:NOW) CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction on Monday, November 13th. The shares were sold at an average price of $124.21, for a total transaction of $2,030,709.29. Following the completion of the sale, the executive now directly owns 67,185 shares of the company’s stock, valued at $8,345,048.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
ServiceNow, Inc. (NOW) opened at $125.72 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66. ServiceNow, Inc. has a 52 week low of $72.80 and a 52 week high of $129.56.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. The firm had revenue of $498.20 million for the quarter, compared to analysts’ expectations of $491.62 million. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The company’s quarterly revenue was up 39.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 earnings per share. equities analysts expect that ServiceNow, Inc. will post -0.35 EPS for the current year.
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Several equities research analysts have weighed in on the stock. Argus reaffirmed a “buy” rating and issued a $150.00 price target (up from $125.00) on shares of ServiceNow in a research note on Friday, October 27th. Bank of America Corporation lifted their price target on shares of ServiceNow from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research downgraded shares of ServiceNow from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. UBS AG lifted their price target on shares of ServiceNow from $128.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Finally, Piper Jaffray Companies raised shares of ServiceNow from a “neutral” rating to an “overweight” rating in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have given a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $130.50.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank lifted its stake in shares of ServiceNow by 3.1% during the 2nd quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock valued at $64,300,000 after buying an additional 18,200 shares in the last quarter. Allen Investment Management LLC purchased a new stake in shares of ServiceNow during the 2nd quarter valued at approximately $45,372,000. Rockefeller Financial Services Inc. purchased a new stake in shares of ServiceNow during the 3rd quarter valued at approximately $138,000. Utah Retirement Systems lifted its stake in shares of ServiceNow by 6.3% during the 2nd quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock valued at $3,243,000 after buying an additional 1,800 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its stake in shares of ServiceNow by 29.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 98.78% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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