Paul John Smith Sells 602 Shares of ServiceNow, Inc. (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Paul John Smith sold 602 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Paul John Smith also recently made the following trade(s):

• On Monday, May 13th, Paul John Smith sold 125 shares of ServiceNow stock. The shares were sold at an average price of $727.38, for a total value of $90,922.50.
• On Wednesday, May 8th, Paul John Smith sold 190 shares of ServiceNow stock. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20.

ServiceNow Stock Performance

NYSE:NOW opened at $770.43 on Thursday. ServiceNow, Inc. has a twelve month low of $494.13 and a twelve month high of $815.32. The company has a market capitalization of $157.94 billion, a P/E ratio of 82.40, a price-to-earnings-growth ratio of 4.86 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $747.63 and a two-hundred day moving average price of $730.35.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, research analysts expect that ServiceNow, Inc. will post 6.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in NOW. Vanguard Group Inc. raised its stake in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. FMR LLC lifted its stake in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the period. Jennison Associates LLC boosted its position in ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after acquiring an additional 53,719 shares during the last quarter. Norges Bank purchased a new stake in ServiceNow in the 4th quarter worth approximately $1,648,259,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after acquiring an additional 81,028 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NOW shares. Robert W. Baird raised their price objective on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Jefferies Financial Group boosted their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. The Goldman Sachs Group increased their price target on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $808.73.

About ServiceNow

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.