Insider Selling: ServiceNow Inc (NOW) Director Sells 102,000 Shares of Stock

ServiceNow Inc (NYSE:NOW) Director Frederic B. Luddy sold 102,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $94.96, for a total value of $9,685,920.00. Following the sale, the director now owns 6,232 shares of the company’s stock, valued at approximately $591,790.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ServiceNow Inc (NYSE:NOW) traded up 1.28% during midday trading on Friday, reaching $100.24. The company’s stock had a trading volume of 345,531 shares. The company’s 50-day moving average is $91.46 and its 200 day moving average is $86.50. ServiceNow Inc has a 12-month low of $63.51 and a 12-month high of $100.31. The firm’s market cap is $17.01 billion.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.02. The firm had revenue of $416.80 million for the quarter, compared to analysts’ expectations of $409.26 million. ServiceNow had a negative net margin of 32.49% and a negative return on equity of 44.13%. The business’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Equities analysts forecast that ServiceNow Inc will post $1.16 earnings per share for the current year.

Insider Buying and Selling by Quarter for ServiceNow (NYSE:NOW)

COPYRIGHT VIOLATION NOTICE: “Insider Selling: ServiceNow Inc (NOW) Director Sells 102,000 Shares of Stock” was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/05/19/frederic-b-luddy-sells-102000-shares-of-servicenow-inc-now-stock-updated.html.

A number of brokerages have issued reports on NOW. Wunderlich upped their price objective on ServiceNow from $95.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Citigroup Inc upped their price objective on ServiceNow from $95.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Canaccord Genuity restated a “buy” rating and issued a $105.00 price objective on shares of ServiceNow in a research note on Thursday, January 26th. Mizuho upped their price objective on ServiceNow from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Finally, DA Davidson reaffirmed a “buy” rating and set a $102.00 price target on shares of ServiceNow in a research report on Tuesday, January 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $100.75.

Several institutional investors have recently made changes to their positions in NOW. Sands Capital Management LLC increased its position in ServiceNow by 2,208.1% in the fourth quarter. Sands Capital Management LLC now owns 3,981,417 shares of the information technology services provider’s stock worth $295,979,000 after buying an additional 3,808,917 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in ServiceNow by 16.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 24,810,116 shares of the information technology services provider’s stock worth $1,963,721,000 after buying an additional 3,427,033 shares in the last quarter. FMR LLC increased its position in ServiceNow by 91.1% in the first quarter. FMR LLC now owns 3,280,069 shares of the information technology services provider’s stock worth $286,908,000 after buying an additional 1,563,778 shares in the last quarter. Norges Bank bought a new position in ServiceNow during the fourth quarter worth $101,728,000. Finally, Vanguard Group Inc. increased its position in ServiceNow by 8.1% in the first quarter. Vanguard Group Inc. now owns 13,244,656 shares of the information technology services provider’s stock worth $1,158,511,000 after buying an additional 994,461 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

About ServiceNow

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

5 Day Chart for NYSE:NOW

Receive News & Ratings for ServiceNow Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply