Key Points
- Insider sale: Kevin Thomas Mcbride sold 1,400 ServiceNow shares on Feb. 13 at an average of $105.71 for about $148,000, reducing his stake by 5.05% to 26,314 shares (SEC Form 4 filed).
- Earnings beat and growth: ServiceNow reported $0.92 EPS vs. $0.89 expected and revenue of $3.57 billion, up 20.7% year-over-year, indicating continued strong top-line growth.
- Market view: Analysts maintain a consensus "Moderate Buy" with a $193.01 target amid mixed price-target revisions, and institutional ownership sits around 87.18% after large reported purchases by major funds.
ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the sale, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
ServiceNow Stock Up 3.7%
NYSE:NOW opened at $107.06 on Friday. The company has a market cap of $111.99 billion, a price-to-earnings ratio of 64.19, a P/E/G 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's fifty day moving average price is $138.14 and its two-hundred day moving average price is $164.82. ServiceNow, Inc. has a 52-week low of $98.00 and a 52-week high of $211.48.
ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping 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 company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The firm's quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.
Wall Street Analyst Weigh In
NOW has been the topic of several recent analyst reports. HSBC reduced their price objective on shares of ServiceNow from $266.40 to $226.00 and set a "buy" rating on the stock in a research note on Friday, January 30th. Evercore reiterated an "outperform" rating and issued a $175.00 target price (down from $225.00) on shares of ServiceNow in a report on Thursday, January 29th. Sanford C. Bernstein reissued an "outperform" rating on shares of ServiceNow in a research report on Thursday, January 29th. Barclays upped their price objective on shares of ServiceNow from $242.00 to $245.00 and gave the company an "overweight" rating in a research report on Thursday, October 30th. Finally, DA Davidson reiterated a "buy" rating and set a $220.00 target price on shares of ServiceNow in a report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.01.
Read Our Latest Research Report on NOW
Institutional Trading of ServiceNow
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 81,752,460 shares during the last quarter. State Street Corp increased its stake in ServiceNow by 406.6% in the 4th 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 buying an additional 38,441,898 shares during the last quarter. Geode Capital Management LLC increased its stake in ServiceNow by 404.8% in the 4th 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 buying an additional 18,854,775 shares during the last quarter. Morgan Stanley lifted its position in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock worth $3,482,543,000 after buying an additional 17,514,679 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ServiceNow by 417.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,004,910 shares of the information technology services provider's stock worth $2,145,412,000 after buying an additional 11,295,806 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.
About ServiceNow
(
Get Free Report)
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.
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