ServiceNow Inc. (NOW) Director Frederic B. Luddy Sells 79,000 Shares of Stock
ServiceNow Inc. (NYSE:NOW) Director Frederic B. Luddy sold 79,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $83.09, for a total value of $6,564,110.00. Following the sale, the director now directly owns 22,126 shares in the company, valued at approximately $1,838,449.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of ServiceNow Inc. (NYSE:NOW) traded up 1.55% during mid-day trading on Thursday, hitting $87.00. The stock had a trading volume of 217,767 shares. ServiceNow Inc. has a 1-year low of $46.00 and a 1-year high of $91.28. The firm’s market capitalization is $14.44 billion. The stock’s 50-day moving average is $81.07 and its 200 day moving average is $74.61.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 26th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. ServiceNow had a negative net margin of 35.38% and a negative return on equity of 38.73%. The company earned $357.66 million during the quarter, compared to analyst estimates of $352.16 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. Equities research analysts predict that ServiceNow Inc. will post $0.70 EPS for the current fiscal year.
A number of equities research analysts have weighed in on NOW shares. Mizuho raised their target price on ServiceNow from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, October 27th. Zacks Investment Research downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Cowen and Company set a $100.00 target price on ServiceNow and gave the company a “buy” rating in a report on Thursday, October 27th. BMO Capital Markets started coverage on ServiceNow in a report on Monday, September 19th. They issued a “market perform” rating and a $85.00 target price on the stock. Finally, MKM Partners reaffirmed a “neutral” rating on shares of ServiceNow in a report on Friday, November 4th. One investment 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 given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $85.93.
A number of hedge funds and other institutional investors have recently made changes to their positions in NOW. Commonwealth Bank of Australia raised its position in shares of 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 during the period. Toronto Dominion Bank increased its stake in ServiceNow by 58.9% in the third quarter. Toronto Dominion Bank now owns 1,405 shares of the company’s stock valued at $111,000 after buying an additional 521 shares in the last quarter. Mosaic Family Wealth LLC acquired a new stake in ServiceNow during the third quarter valued at $111,000. Meeder Asset Management Inc. acquired a new stake in ServiceNow during the third quarter valued at $149,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in ServiceNow by 162.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock valued at $151,000 after buying an additional 1,406 shares in the last quarter. Institutional investors own 95.98% of the company’s stock.
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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