Investors Sell ServiceNow (NOW) on Strength (NOW)

Traders sold shares of ServiceNow Inc (NYSE:NOW) on strength during trading on Tuesday. $57.25 million flowed into the stock on the tick-up and $76.91 million flowed out of the stock on the tick-down, for a money net flow of $19.66 million out of the stock. Of all stocks tracked, ServiceNow had the 30th highest net out-flow for the day. ServiceNow traded up $2.73 for the day and closed at $156.76

Several brokerages recently commented on NOW. Barclays boosted their price target on ServiceNow from $158.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday. Argus boosted their price target on ServiceNow to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Credit Suisse Group reiterated a “buy” rating and set a $165.00 price target on shares of ServiceNow in a research report on Sunday, February 11th. Evercore ISI reiterated a “buy” rating and set a $170.00 price target on shares of ServiceNow in a research report on Friday, February 2nd. Finally, Oppenheimer reiterated a “hold” rating on shares of ServiceNow in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $149.72.

The stock has a market cap of $27,070.00, a P/E ratio of -180.18, a P/E/G ratio of 35.05 and a beta of 1.26. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. ServiceNow had a negative return on equity of 24.97% and a negative net margin of 7.71%. The business had revenue of $546.37 million for the quarter, compared to analyst estimates of $532.74 million. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s quarterly revenue was up 41.7% on a year-over-year basis. sell-side analysts expect that ServiceNow Inc will post 0.1 EPS for the current year.

In other news, Director Frederic B. Luddy sold 170,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $129.43, for a total value of $22,003,100.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Scarpelli sold 95,035 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $126.52, for a total value of $12,023,828.20. Following the completion of the transaction, the insider now directly owns 194,664 shares in the company, valued at approximately $24,628,889.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 545,302 shares of company stock worth $73,917,711. Corporate insiders own 3.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. SeaBridge Investment Advisors LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $118,000. Exane Derivatives lifted its stake in shares of ServiceNow by 90.3% in the 4th quarter. Exane Derivatives now owns 925 shares of the information technology services provider’s stock valued at $121,000 after purchasing an additional 439 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at $131,000. Roble Belko & Company Inc lifted its stake in ServiceNow by 5,263.2% during the 4th quarter. Roble Belko & Company Inc now owns 1,019 shares of the information technology services provider’s stock worth $133,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Rockefeller Financial Services Inc. acquired a new position in ServiceNow during the 3rd quarter worth about $138,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

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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.

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