ServiceNow Inc. (NYSE:NOW) insider Frederic B. Luddy sold 199,000 shares of ServiceNow stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $76.68, for a total value of $15,259,320.00. Following the sale, the insider now directly owns 1,587 shares in the company, valued at $121,691.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
ServiceNow Inc. (NYSE:NOW) opened at 77.45 on Friday. The firm’s market capitalization is $12.74 billion. ServiceNow Inc. has a 52 week low of $46.00 and a 52 week high of $91.28. The company has a 50-day moving average of $74.81 and a 200-day moving average of $70.11.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. ServiceNow had a negative net margin of 38.64% and a negative return on equity of 36.56%. The firm had revenue of $341.30 million for the quarter, compared to analyst estimates of $334.07 million. During the same quarter last year, the business posted $0.05 earnings per share. The company’s quarterly revenue was up 38.3% on a year-over-year basis. On average, equities analysts forecast that ServiceNow Inc. will post $0.66 earnings per share for the current fiscal year.
A number of research firms recently weighed in on NOW. Piper Jaffray Cos. reissued an “overweight” rating and set a $90.00 target price on shares of ServiceNow in a research report on Thursday, July 28th. BMO Capital Markets started coverage on ServiceNow in a report on Monday, September 19th. They set a “market perform” rating and a $85.00 price objective on the stock. Cowen and Company started coverage on ServiceNow in a report on Friday, June 24th. They set an “outperform” rating and a $95.00 price objective on the stock. Vetr downgraded ServiceNow from a “strong-buy” rating to a “buy” rating and set a $83.80 price objective on the stock. in a report on Monday, June 6th. Finally, BTIG Research reaffirmed a “buy” rating and set a $85.00 price objective on shares of ServiceNow in a report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. ServiceNow presently has a consensus rating of “Buy” and an average target price of $84.47.
Institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC increased its position in ServiceNow by 32.3% in the second quarter. TIAA CREF Investment Management LLC now owns 2,743,103 shares of the company’s stock valued at $182,142,000 after buying an additional 668,994 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in ServiceNow during the second quarter valued at about $42,700,000. Vanguard Group Inc. increased its position in ServiceNow by 5.3% in the second quarter. Vanguard Group Inc. now owns 11,348,960 shares of the company’s stock valued at $753,572,000 after buying an additional 570,656 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in ServiceNow during the second quarter valued at about $30,979,000. Finally, Carmignac Gestion increased its position in ServiceNow by 9.3% in the second quarter. Carmignac Gestion now owns 4,773,861 shares of the company’s stock valued at $316,984,000 after buying an additional 407,846 shares during the last quarter. 95.72% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Company Profile
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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