ServiceNow Inc. (NYSE:NOW) insider Frederic B. Luddy sold 154,000 shares of ServiceNow stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $75.52, for a total value of $11,630,080.00. Following the sale, the insider now owns 1,587 shares of the company’s stock, valued at approximately $119,850.24. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of ServiceNow Inc. (NYSE:NOW) traded up 3.62% on Wednesday, reaching $78.92. The company’s stock had a trading volume of 3,482,034 shares. The stock has a 50-day moving average of $76.63 and a 200 day moving average of $72.19. ServiceNow Inc. has a 52 week low of $46.00 and a 52 week high of $91.28. The stock’s market capitalization is $12.98 billion.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. ServiceNow had a negative return on equity of 36.56% and a negative net margin of 38.64%. The firm earned $341.30 million during the quarter, compared to the consensus estimate of $334.07 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, analysts expect that ServiceNow Inc. will post $0.66 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Aperio Group LLC increased its stake in shares of ServiceNow by 16.3% in the first quarter. Aperio Group LLC now owns 23,072 shares of the company’s stock valued at $1,412,000 after buying an additional 3,237 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of ServiceNow by 10.2% in the first quarter. Ngam Advisors L.P. now owns 14,129 shares of the company’s stock valued at $864,000 after buying an additional 1,306 shares during the last quarter. BlackRock Inc. increased its stake in shares of ServiceNow by 8.5% in the first quarter. BlackRock Inc. now owns 122,189 shares of the company’s stock valued at $7,475,000 after buying an additional 9,526 shares during the last quarter. BlackRock Group LTD increased its stake in shares of ServiceNow by 0.5% in the first quarter. BlackRock Group LTD now owns 922,881 shares of the company’s stock valued at $56,461,000 after buying an additional 4,842 shares during the last quarter. Finally, Aviva PLC increased its stake in shares of ServiceNow by 1.3% in the first quarter. Aviva PLC now owns 75,661 shares of the company’s stock valued at $4,629,000 after buying an additional 996 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.
NOW has been the subject of a number of recent research reports. Piper Jaffray Cos. reiterated an “overweight” rating and set a $90.00 price objective on shares of ServiceNow in a research report on Friday, July 15th. Vetr raised ServiceNow from a “buy” rating to a “strong-buy” rating and set a $90.24 price target on the stock in a research note on Monday, July 18th. Zacks Investment Research lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. BMO Capital Markets initiated coverage on ServiceNow in a research note on Monday, September 19th. They issued a “market perform” rating and a $85.00 price target on the stock. Finally, Argus reissued a “buy” rating and issued a $86.00 price target on shares of ServiceNow in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $84.47.
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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