Kevin Thomas Mcbride Sells 1,400 Shares of ServiceNow (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares in the company, valued at $2,781,652.94. This trade represents a 5.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ServiceNow Price Performance

ServiceNow stock traded up $3.77 during midday trading on Friday, hitting $107.06. 22,751,711 shares of the company’s stock were exchanged, compared to its average volume of 23,934,470. The company has a market cap of $111.99 billion, a P/E ratio of 64.19, a PEG ratio of 1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day moving average price of $138.14 and a two-hundred day moving average price of $164.82. ServiceNow, Inc. has a 52-week low of $98.00 and a 52-week high of $211.48.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company posted $0.73 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NOW shares. Stifel Nicolaus set a $180.00 price target on shares of ServiceNow and gave the stock a “buy” rating in a report on Thursday, January 29th. Canaccord Genuity Group set a $200.00 target price on ServiceNow in a research note on Thursday, January 29th. Morgan Stanley set a $263.00 price target on ServiceNow and gave the stock an “overweight” rating in a research note on Thursday, October 30th. TD Cowen cut their price objective on ServiceNow from $200.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Finally, Royal Bank Of Canada decreased their price objective on ServiceNow from $195.00 to $185.00 and set an “outperform” rating on the stock in a report on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $193.01.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of NOW. Vanguard Group Inc. raised its holdings in 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 increased its position in shares of ServiceNow by 406.6% in the fourth 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 acquiring an additional 38,441,898 shares during the period. Geode Capital Management LLC raised its stake in shares of ServiceNow by 404.8% during the fourth 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 last quarter. Morgan Stanley raised its stake in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after acquiring an additional 17,514,679 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of ServiceNow during the fourth quarter worth about $2,020,992,000. 87.18% of the stock is currently owned by institutional investors.

About ServiceNow

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.