Kevin Thomas Mcbride Sells 1,400 Shares of ServiceNow (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the sale, the insider directly owned 26,314 shares of the company’s stock, valued at $2,781,652.94. This represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

ServiceNow Price Performance

Shares of NYSE NOW opened at $107.06 on Friday. The stock’s 50-day simple moving average is $138.14 and its two-hundred day simple moving average is $164.59. ServiceNow, Inc. has a twelve month low of $98.00 and a twelve month high of $211.48. The firm has a market capitalization of $111.99 billion, a P/E ratio of 64.19, a P/E/G ratio of 1.81 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted $0.73 EPS. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NOW. Arete Wealth Advisors LLC boosted its holdings in ServiceNow by 449.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 8,017 shares of the information technology services provider’s stock valued at $1,228,000 after acquiring an additional 6,559 shares during the period. CreativeOne Wealth LLC increased its stake in ServiceNow by 503.5% in the 4th quarter. CreativeOne Wealth LLC now owns 17,116 shares of the information technology services provider’s stock worth $2,622,000 after purchasing an additional 14,280 shares during the period. Nan Shan Life Insurance Co. Ltd. lifted its position in ServiceNow by 400.0% in the fourth quarter. Nan Shan Life Insurance Co. Ltd. now owns 514,260 shares of the information technology services provider’s stock valued at $78,779,000 after purchasing an additional 411,408 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in shares of ServiceNow by 423.0% during the fourth quarter. Kestra Advisory Services LLC now owns 91,943 shares of the information technology services provider’s stock valued at $14,085,000 after purchasing an additional 74,363 shares during the period. Finally, Liberty One Investment Management LLC boosted its stake in shares of ServiceNow by 136.5% during the fourth quarter. Liberty One Investment Management LLC now owns 1,095 shares of the information technology services provider’s stock valued at $168,000 after purchasing an additional 632 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOW. Mizuho decreased their price target on shares of ServiceNow from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Wells Fargo & Company set a $225.00 target price on shares of ServiceNow and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of ServiceNow in a research report on Thursday, January 29th. Argus raised ServiceNow to a “strong-buy” rating in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Saturday, December 27th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $193.01.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.