ServiceNow Inc. (NOW) Director Frederic B. Luddy Sells 154,000 Shares
ServiceNow Inc. (NYSE:NOW) Director Frederic B. Luddy sold 154,000 shares of the stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $84.18, for a total value of $12,963,720.00. Following the sale, the director now owns 22,126 shares of the company’s stock, valued at approximately $1,862,566.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
ServiceNow Inc. (NYSE:NOW) traded up 1.20% during mid-day trading on Thursday, hitting $86.70. 144,553 shares of the stock traded hands. ServiceNow Inc. has a 12 month low of $46.00 and a 12 month high of $91.28. The company’s market cap is $14.39 billion. The stock’s 50 day moving average is $81.07 and its 200-day moving average is $74.61.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. The business had revenue of $357.66 million for the quarter, compared to analyst estimates of $352.16 million. ServiceNow had a negative net margin of 35.38% and a negative return on equity of 38.73%. The company’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 earnings per share. On average, equities research analysts anticipate that ServiceNow Inc. will post $0.70 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia raised its stake in ServiceNow by 18.1% in the third quarter. Commonwealth Bank of Australia now owns 1,306 shares of the company’s stock valued at $104,000 after buying an additional 200 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of ServiceNow by 58.9% in the third quarter. Toronto Dominion Bank now owns 1,405 shares of the company’s stock worth $111,000 after buying an additional 521 shares during the period. Mosaic Family Wealth LLC purchased a new stake in shares of ServiceNow during the third quarter worth about $111,000. Meeder Asset Management Inc. purchased a new stake in shares of ServiceNow during the third quarter worth about $149,000. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of ServiceNow by 162.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock worth $151,000 after buying an additional 1,406 shares during the period. Institutional investors and hedge funds own 95.98% of the company’s stock.
NOW has been the subject of a number of research analyst reports. Mizuho raised their target price on ServiceNow from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, October 27th. Zacks Investment Research lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Cowen and Company set a $100.00 target price on ServiceNow and gave the stock a “buy” rating in a research note on Thursday, October 27th. BMO Capital Markets initiated coverage on ServiceNow in a research note on Monday, September 19th. They issued a “market perform” rating and a $85.00 target price for the company. Finally, MKM Partners restated a “neutral” rating on shares of ServiceNow in a research note on Friday, November 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $85.93.
ServiceNow Company Profile
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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