ServiceNow, Inc. (NYSE:NOW) Director Lawrence Jackson Sells 707 Shares

ServiceNow, Inc. (NYSE:NOW – Get Rating) Director Lawrence Jackson sold 707 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $446.40, for a total value of $315,604.80. Following the completion of the sale, the director now owns 660 shares of the company’s stock, valued at approximately $294,624. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

ServiceNow Stock Up 1.6 %

NYSE NOW opened at $453.77 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60. The stock has a fifty day moving average of $464.09 and a 200-day moving average of $504.78. The stock has a market capitalization of $90.96 billion, a P/E ratio of 498.65, a price-to-earnings-growth ratio of 9.21 and a beta of 0.94.

ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts forecast that ServiceNow, Inc. will post 1.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NOW. Royal Bank of Canada reiterated a “maintains” rating on shares of ServiceNow in a research report on Thursday, July 28th. Truist Financial reduced their price objective on ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Sanford C. Bernstein initiated coverage on ServiceNow in a research report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price for the company. KeyCorp cut their target price on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Finally, TheStreet downgraded ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $589.90.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in NOW. Chilton Capital Management LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $25,000. OLD Second National Bank of Aurora bought a new position in ServiceNow during the first quarter worth about $28,000. High Net Worth Advisory Group LLC bought a new position in ServiceNow during the first quarter worth about $29,000. AHL Investment Management Inc. bought a new position in ServiceNow during the fourth quarter worth about $35,000. Finally, Lee Financial Co lifted its holdings in ServiceNow by 671.4% during the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 47 shares in the last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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