Key Points
- Director Lawrence Jackson sold 265 shares on Nov. 28 at an average of $810.22 for $214,708.30, reducing his holdings by 45.07% to 323 shares (worth about $261,701).
- ServiceNow will complete a 5-for-1 stock split, with new shares distributed after the close on Dec. 4 and the split effective Dec. 5.
- In its most recent quarter ServiceNow beat estimates with $4.82 EPS (vs. $4.21 expected) and $3.41 billion in revenue, up 21.8% year-over-year, signaling continued strong growth.
ServiceNow, Inc. (NYSE:NOW - Get Free Report) Director Lawrence Jackson sold 265 shares of ServiceNow stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $810.22, for a total value of $214,708.30. Following the completion of the sale, the director directly owned 323 shares in the company, valued at $261,701.06. This represents a 45.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
ServiceNow Price Performance
NYSE NOW opened at $824.75 on Wednesday. The firm's 50 day moving average is $884.97 and its 200-day moving average is $933.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $171.55 billion, a PE ratio of 99.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.97. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.
ServiceNow shares are scheduled to split on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly minted shares will be distributed to shareholders after the market closes on Thursday, December 4th.
ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, topping the consensus estimate of $4.21 by $0.61. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. The firm had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period in the previous year, the firm posted $3.72 EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on NOW shares. Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a research report on Wednesday. UBS Group upped their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Thursday, October 30th. Mizuho set a $1,150.00 price objective on ServiceNow in a report on Thursday, October 30th. Cantor Fitzgerald restated an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of ServiceNow in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,149.67.
View Our Latest Analysis on ServiceNow
Institutional Investors Weigh In On ServiceNow
A number of large investors have recently added to or reduced their stakes in NOW. Norges Bank acquired a new position in shares of ServiceNow in the second quarter valued at $2,589,235,000. Nuveen LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $1,817,535,000. Goldman Sachs Group Inc. boosted its holdings in shares of ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock worth $1,178,706,000 after buying an additional 840,731 shares during the period. Parnassus Investments LLC acquired a new position in ServiceNow in the 1st quarter valued at about $519,806,000. Finally, Amundi grew its stake in ServiceNow by 61.9% in the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider's stock valued at $1,269,777,000 after buying an additional 626,623 shares during the last quarter. Institutional investors own 87.18% of the company's stock.
About ServiceNow
(
Get Free Report)
ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.
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