ServiceNow Inc (NOW) Director Frederic B. Luddy Sells 21,103 Shares

ServiceNow Inc (NYSE:NOW) Director Frederic B. Luddy sold 21,103 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $263.72, for a total value of $5,565,283.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

NYSE NOW opened at $272.99 on Friday. The stock has a market capitalization of $50.82 billion, a PE ratio of 1,364.95, a price-to-earnings-growth ratio of 20.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow Inc has a twelve month low of $147.63 and a twelve month high of $281.74.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. The firm had revenue of $788.93 million during the quarter, compared to analyst estimates of $768.09 million. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share. Equities research analysts predict that ServiceNow Inc will post 0.48 earnings per share for the current fiscal year.

NOW has been the subject of several recent research reports. Needham & Company LLC boosted their price target on ServiceNow to $267.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Canaccord Genuity boosted their price target on ServiceNow from $240.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 25th. UBS Group reissued a “buy” rating and set a $230.00 price target (up previously from $214.00) on shares of ServiceNow in a report on Thursday, January 31st. Jefferies Financial Group boosted their price target on ServiceNow from $242.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $260.00 price target on shares of ServiceNow in a report on Friday, February 1st. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $268.24.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Jennison Associates LLC lifted its position in shares of ServiceNow by 26.2% in the first quarter. Jennison Associates LLC now owns 3,036,568 shares of the information technology services provider’s stock worth $748,484,000 after buying an additional 630,491 shares in the last quarter. Coatue Management LLC lifted its position in shares of ServiceNow by 38.6% in the fourth quarter. Coatue Management LLC now owns 2,129,852 shares of the information technology services provider’s stock worth $379,220,000 after buying an additional 592,759 shares in the last quarter. American Century Companies Inc. lifted its position in shares of ServiceNow by 14.6% in the fourth quarter. American Century Companies Inc. now owns 1,772,188 shares of the information technology services provider’s stock worth $315,538,000 after buying an additional 226,028 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 11.2% in the first quarter. Geode Capital Management LLC now owns 1,708,503 shares of the information technology services provider’s stock worth $420,790,000 after buying an additional 172,153 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of ServiceNow in the fourth quarter worth about $297,403,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

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ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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