Insider Selling: ServiceNow, Inc. (NOW) Director Sells $6,267,000.00 in Stock

ServiceNow, Inc. (NYSE:NOW) Director Frederic B. Luddy sold 50,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $125.34, for a total value of $6,267,000.00. Following the transaction, the director now owns 400 shares in the company, valued at approximately $50,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of ServiceNow, Inc. (NYSE NOW) opened at $127.54 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.66 and a current ratio of 1.66. ServiceNow, Inc. has a twelve month low of $72.80 and a twelve month high of $129.56.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The firm had revenue of $498.20 million during the quarter, compared to the consensus estimate of $491.62 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue was up 39.3% compared to the same quarter last year. sell-side analysts predict that ServiceNow, Inc. will post -0.35 earnings per share for the current fiscal year.

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Several equities analysts have recently commented on the company. Barclays PLC raised their price target on ServiceNow from $120.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. raised their price target on ServiceNow from $110.00 to $126.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 27th. Canaccord Genuity restated a “buy” rating and set a $130.00 price target (up previously from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. Royal Bank Of Canada raised their price target on ServiceNow from $110.00 to $126.00 and gave the company a “top pick” rating in a research note on Monday, July 24th. Finally, JMP Securities restated an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have assigned a buy rating and three have given a strong buy rating to the company. ServiceNow has an average rating of “Buy” and an average target price of $130.50.

Several institutional investors have recently added to or reduced their stakes in NOW. LS Investment Advisors LLC raised its position in ServiceNow by 3.6% during the second quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock valued at $184,000 after acquiring an additional 61 shares in the last quarter. Commonwealth Bank of Australia raised its position in ServiceNow by 5.8% during the second quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock valued at $159,000 after acquiring an additional 83 shares in the last quarter. Comerica Bank raised its position in ServiceNow by 2.6% during the second quarter. Comerica Bank now owns 7,959 shares of the information technology services provider’s stock valued at $859,000 after acquiring an additional 205 shares in the last quarter. Toronto Dominion Bank raised its position in ServiceNow by 12.3% during the second quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock valued at $216,000 after acquiring an additional 224 shares in the last quarter. Finally, BB&T Corp raised its position in ServiceNow by 5.7% during the second quarter. BB&T Corp now owns 4,406 shares of the information technology services provider’s stock valued at $467,000 after acquiring an additional 239 shares in the last quarter. 98.78% of the stock is owned by hedge funds and other institutional investors.

About ServiceNow

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

Insider Buying and Selling by Quarter for ServiceNow (NYSE:NOW)

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