ServiceNow (NYSE:NOW) Insider Paul Fipps Sells 9,641 Shares

ServiceNow, Inc. (NYSE:NOW) insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the sale, the insider directly owned 11,757 shares of the company’s stock, valued at approximately $1,245,419.01. This trade represents a 45.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ServiceNow Stock Down 1.4%

Shares of ServiceNow stock traded down $1.52 during trading on Friday, reaching $105.85. 3,634,161 shares of the company traded hands, compared to its average volume of 19,643,555. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $110.72 billion, a PE ratio of 63.43, a P/E/G ratio of 1.82 and a beta of 0.97. The company has a 50 day moving average price of $132.99 and a 200-day moving average price of $162.48. ServiceNow, Inc. has a 1-year low of $98.00 and a 1-year high of $211.48.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Vanguard Group Inc. lifted its position in shares of ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares during the last quarter. State Street Corp lifted its stake in shares of ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after buying an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC raised its holdings in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. DZ Bank raised shares of ServiceNow to a “strong-buy” rating in a research report on Thursday, December 18th. Truist Financial set a $175.00 target price on shares of ServiceNow in a report on Thursday, February 5th. Jefferies Financial Group decreased their price objective on ServiceNow from $230.00 to $175.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Guggenheim upgraded ServiceNow from a “sell” rating to a “neutral” rating in a report on Tuesday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $155.00 price target on shares of ServiceNow in a research report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.06.

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.