Key Points
- ServiceNow insider Paul Fipps sold 1,048 shares on Monday at an average price of $98.51, totaling about $103,238. The sale reduced his direct ownership by 7.99% and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to equity award vesting.
- The company recently reported solid quarterly results, with EPS of $0.97 matching estimates and revenue of $3.77 billion, slightly above expectations. Revenue rose 22.1% year over year, and analysts currently expect full-year EPS of 2.35.
- Sentiment around ServiceNow remains mixed but generally constructive: Bank of America reinstated coverage with a Buy rating and $130 target, while other analysts also maintained bullish views. The stock has also drawn attention as a potential AI beneficiary, despite ongoing concerns about AI disruption.
ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Paul Fipps sold 1,048 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Paul Fipps also recently made the following trade(s):
- On Friday, May 8th, Paul Fipps sold 151 shares of ServiceNow stock. The shares were sold at an average price of $90.47, for a total transaction of $13,660.97.
- On Monday, February 23rd, Paul Fipps sold 3,696 shares of ServiceNow stock. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92.
- On Wednesday, February 18th, Paul Fipps sold 9,641 shares of ServiceNow stock. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13.
ServiceNow Trading Up 8.9%
NOW opened at $103.52 on Tuesday. The stock has a market capitalization of $106.73 billion, a PE ratio of 61.69, a P/E/G ratio of 1.61 and a beta of 0.82. The firm's fifty day moving average price is $100.18 and its 200 day moving average price is $128.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48.
ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm's quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.
Hedge Funds Weigh In On ServiceNow
Several institutional investors have recently modified their holdings of the company. World Investment Advisors lifted its holdings in ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock valued at $7,346,000 after acquiring an additional 38,583 shares during the last quarter. Cohen Klingenstein LLC lifted its holdings in ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after acquiring an additional 8,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in ServiceNow by 385.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after acquiring an additional 2,064,440 shares during the last quarter. Torray Investment Partners LLC lifted its holdings in ServiceNow by 390.5% in the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock valued at $6,224,000 after acquiring an additional 32,345 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after acquiring an additional 6,213,762 shares during the last quarter. Institutional investors own 87.18% of the company's stock.
Trending Headlines about ServiceNow
Here are the key news stories impacting ServiceNow this week:
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Bank of America assumed coverage on shares of ServiceNow in a research note on Monday. They set a "buy" rating and a $130.00 target price for the company. Cantor Fitzgerald lowered their target price on shares of ServiceNow to $122.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. BTIG Research reiterated a "buy" rating and set a $150.00 target price on shares of ServiceNow in a research note on Monday, May 4th. Stifel Nicolaus lowered their target price on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Finally, Macquarie Infrastructure lowered their target price on shares of ServiceNow from $172.00 to $140.00 and set a "neutral" rating for the company in a research note on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $141.89.
Check Out Our Latest Stock Report on NOW
ServiceNow Company Profile
(
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.
Further Reading
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