Investors Sell ServiceNow (NOW) on Strength After Insider Selling

Investors sold shares of ServiceNow (NYSE:NOW) on strength during trading hours on Thursday following insider selling activity. $69.52 million flowed into the stock on the tick-up and $101.61 million flowed out of the stock on the tick-down, for a money net flow of $32.09 million out of the stock. Of all stocks tracked, ServiceNow had the 0th highest net out-flow for the day. ServiceNow traded up $3.23 for the day and closed at $168.73Specifically, Director Susan L. Bostrom sold 19,673 shares of ServiceNow stock in a transaction on Friday, February 9th. The stock was sold at an average price of $142.24, for a total transaction of $2,798,287.52. Following the transaction, the director now owns 7,079 shares in the company, valued at approximately $1,006,916.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of ServiceNow stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $146.27, for a total value of $14,627,000.00. Following the transaction, the director now owns 201,776 shares in the company, valued at approximately $29,513,775.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 621,172 shares of company stock worth $98,285,013. 3.30% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on the company. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Thursday, April 26th. Zacks Investment Research lowered ServiceNow from a “strong-buy” rating to a “hold” rating in a report on Friday, April 27th. ValuEngine upgraded ServiceNow from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on ServiceNow from $150.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, April 26th. Finally, Macquarie lifted their price target on ServiceNow from $165.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, April 26th. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. ServiceNow presently has an average rating of “Buy” and an average target price of $167.67.

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The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $29,239.80, a PE ratio of -163.07, a PEG ratio of 28.51 and a beta of 1.07.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 25th. The information technology services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.19. The company had revenue of $589.20 million for the quarter, compared to analyst estimates of $570.63 million. ServiceNow had a negative net margin of 4.65% and a negative return on equity of 12.24%. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. analysts expect that ServiceNow will post 0.13 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Exane Derivatives increased its stake in ServiceNow by 90.3% during the fourth quarter. Exane Derivatives now owns 925 shares of the information technology services provider’s stock worth $121,000 after purchasing an additional 439 shares during the period. Cerebellum GP LLC purchased a new stake in ServiceNow during the fourth quarter worth about $131,000. Roble Belko & Company Inc increased its stake in ServiceNow by 5,263.2% during the fourth quarter. Roble Belko & Company Inc now owns 1,019 shares of the information technology services provider’s stock worth $133,000 after purchasing an additional 1,000 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in ServiceNow during the fourth quarter worth about $166,000. Finally, Calton & Associates Inc. purchased a new stake in ServiceNow during the fourth quarter worth about $198,000.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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