ServiceNow (NYSE:NOW) Director Sells $151,755.00 in Stock

ServiceNow, Inc. (NYSE:NOW) Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the sale, the director owned 46,430 shares of the company’s stock, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Paul Edward Chamberlain also recently made the following trade(s):

• On Friday, November 28th, Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock. The shares were sold at an average price of $161.60, for a total transaction of $242,400.00.

ServiceNow Price Performance

NOW traded up $3.77 on Friday, hitting $107.06. 22,732,089 shares of the company’s stock were exchanged, compared to its average volume of 20,202,980. ServiceNow, Inc. has a fifty-two week low of $98.00 and a fifty-two week high of $211.48. The stock has a market cap of $111.99 billion, a price-to-earnings ratio of 64.19, a P/E/G ratio of 1.70 and a beta of 0.97. The firm has a 50-day moving average price of $139.41 and a 200-day moving average price of $165.45. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NOW. Canaccord Genuity Group set a $200.00 price objective on shares of ServiceNow in a research report on Thursday, January 29th. HSBC decreased their target price on ServiceNow from $266.40 to $226.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. BTIG Research reaffirmed a “buy” rating and set a $200.00 price target on shares of ServiceNow in a research note on Thursday, January 29th. Wells Fargo & Company set a $225.00 target price on shares of ServiceNow and gave the company an “overweight” rating in a report on Thursday, January 8th. Finally, Argus raised shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, February 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.01.

Institutional Trading of ServiceNow

A number of hedge funds have recently added to or reduced their stakes in NOW. Vanguard Group Inc. boosted its holdings in ServiceNow by 404.5% in the fourth 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 acquiring an additional 81,752,460 shares during the last quarter. State Street Corp boosted its holdings in 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 purchasing an additional 38,441,898 shares during the last quarter. Geode Capital Management LLC grew its position 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 worth $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. Morgan Stanley grew its stake in ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. Finally, Norges Bank bought a new position in shares of ServiceNow in the 4th quarter worth about $2,020,992,000. 87.18% of the stock is owned by institutional investors and hedge funds.

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.