ServiceNow, Inc. (NOW) Insider Sells $12,023,828.20 in Stock
ServiceNow, Inc. (NYSE:NOW) insider Michael Scarpelli sold 95,035 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $126.52, for a total transaction of $12,023,828.20. Following the transaction, the insider now owns 194,664 shares of the company’s stock, valued at approximately $24,628,889.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of ServiceNow, Inc. (NOW) opened at $122.66 on Friday. ServiceNow, Inc. has a 12 month low of $72.80 and a 12 month high of $130.05. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.10.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The business had revenue of $498.20 million for the quarter, compared to the consensus estimate of $491.62 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. equities analysts expect that ServiceNow, Inc. will post -0.35 EPS for the current year.
A number of equities analysts recently weighed in on NOW shares. Robert W. Baird restated a “buy” rating and set a $120.00 target price on shares of ServiceNow in a research report on Friday, September 1st. Credit Suisse Group started coverage on shares of ServiceNow in a research report on Tuesday, September 5th. They set an “outperform” rating and a $135.00 target price for the company. Moffett Nathanson started coverage on shares of ServiceNow in a research report on Wednesday, September 6th. They set a “buy” rating for the company. Summit Redstone restated a “buy” rating and set a $135.00 target price on shares of ServiceNow in a research report on Monday, September 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $127.00 price target on shares of ServiceNow in a research note on Friday, October 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have assigned a buy rating and three have given a strong buy rating to the company. ServiceNow has a consensus rating of “Buy” and a consensus price target of $130.50.
Institutional investors and hedge funds have recently made changes to their positions in the company. Barrett Asset Management LLC purchased a new stake in shares of ServiceNow in the second quarter valued at $117,000. SeaBridge Investment Advisors LLC purchased a new stake in shares of ServiceNow in the third quarter valued at $118,000. Rockefeller Financial Services Inc. purchased a new stake in shares of ServiceNow in the third quarter valued at $138,000. Commonwealth Bank of Australia grew its holdings in shares of ServiceNow by 5.8% in the second quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock worth $159,000 after purchasing an additional 83 shares during the last quarter. Finally, LS Investment Advisors LLC grew its holdings in shares of ServiceNow by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock worth $184,000 after purchasing an additional 61 shares during the last quarter.
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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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