Frederic B. Luddy Sells 100,000 Shares of ServiceNow, Inc. (NOW) Stock

ServiceNow, Inc. (NYSE:NOW) Director Frederic B. Luddy sold 100,000 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $120.51, for a total transaction of $12,051,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

ServiceNow, Inc. (NYSE:NOW) traded up 1.07% on Thursday, reaching $121.97. 1,441,039 shares of the company traded hands. ServiceNow, Inc. has a one year low of $72.80 and a one year high of $122.45. The firm has a 50 day moving average of $115.92 and a 200-day moving average of $104.82. The stock’s market capitalization is $20.82 billion.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $462.11 million. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue was up 38.2% on a year-over-year basis. On average, analysts anticipate that ServiceNow, Inc. will post $1.17 EPS for the current year.

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A number of brokerages recently issued reports on NOW. Robert W. Baird set a $120.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a research report on Friday, October 6th. Summit Redstone reissued a “buy” rating and set a $135.00 price objective on shares of ServiceNow in a report on Monday, September 18th. Moffett Nathanson began coverage on shares of ServiceNow in a report on Wednesday, September 6th. They set a “buy” rating on the stock. Credit Suisse Group began coverage on shares of ServiceNow in a report on Tuesday, September 5th. They set an “outperform” rating and a $135.00 price objective on the stock. Finally, BidaskClub raised shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the stock. ServiceNow has an average rating of “Buy” and an average target price of $118.56.

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank boosted its holdings in ServiceNow by 3.1% in the second quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock valued at $64,300,000 after acquiring an additional 18,200 shares during the last quarter. Allen Investment Management LLC bought a new position in shares of ServiceNow during the 2nd quarter worth approximately $45,372,000. Utah Retirement Systems boosted its holdings 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 worth $3,243,000 after buying an additional 1,800 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of ServiceNow by 29.0% during the 1st quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock worth $61,138,000 after buying an additional 157,079 shares in the last quarter. Finally, Vista Equity Partners Management LLC boosted its holdings in shares of ServiceNow by 27.4% during the 1st quarter. Vista Equity Partners Management LLC now owns 68,743 shares of the information technology services provider’s stock worth $6,013,000 after buying an additional 14,772 shares in the last quarter.

About ServiceNow

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.

Insider Buying and Selling by Quarter for ServiceNow (NYSE:NOW)

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