Frederic B. Luddy Sells 20,539 Shares of ServiceNow Inc. (NOW) Stock
ServiceNow Inc. (NYSE:NOW) Director Frederic B. Luddy sold 20,539 shares of ServiceNow stock in a transaction on Friday, November 18th. The shares were sold at an average price of $86.19, for a total value of $1,770,256.41. Following the completion of the sale, the director now owns 1,887 shares in the company, valued at approximately $162,640.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of ServiceNow Inc. (NYSE:NOW) opened at 86.23 on Wednesday. The firm’s market cap is $14.32 billion. The company has a 50 day moving average price of $81.86 and a 200-day moving average price of $75.16. ServiceNow Inc. has a 12-month low of $46.00 and a 12-month high of $91.28.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 26th. The company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. ServiceNow had a negative return on equity of 38.73% and a negative net margin of 35.38%. The firm had revenue of $357.66 million for the quarter, compared to analysts’ expectations of $352.16 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. Analysts expect that ServiceNow Inc. will post $0.70 EPS for the current year.
Several equities research analysts recently issued reports on the company. DA Davidson set a $102.00 price objective on ServiceNow and gave the company a “buy” rating in a report on Thursday, October 27th. Cowen and Company set a $100.00 price objective on ServiceNow and gave the company a “buy” rating in a report on Thursday, October 27th. MKM Partners reiterated a “neutral” rating on shares of ServiceNow in a report on Friday, November 4th. BMO Capital Markets upgraded ServiceNow from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $97.00 in a report on Thursday, October 27th. Finally, Wunderlich boosted their price objective on ServiceNow from $85.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $85.93.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Bank of Australia boosted its position 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. Mosaic Family Wealth LLC bought a new position in ServiceNow during the third quarter valued at about $111,000. Toronto Dominion Bank boosted its position 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. Meeder Asset Management Inc. bought a new position in ServiceNow during the third quarter valued at about $149,000. Finally, Mizuho Asset Management Co. Ltd. boosted its position 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. 95.18% of the stock is currently owned by institutional investors.
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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