Insider Selling: ServiceNow (NOW) Director Sells $5,422,167.36 in Stock

ServiceNow (NYSE:NOW) Director Frank Slootman sold 31,716 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $170.96, for a total transaction of $5,422,167.36. Following the completion of the sale, the director now directly owns 106,784 shares of the company’s stock, valued at $18,255,792.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Frank Slootman also recently made the following trade(s):

  • On Tuesday, May 1st, Frank Slootman sold 100,000 shares of ServiceNow stock. The shares were sold at an average price of $164.48, for a total transaction of $16,448,000.00.
  • On Monday, April 2nd, Frank Slootman sold 100,000 shares of ServiceNow stock. The shares were sold at an average price of $161.25, for a total transaction of $16,125,000.00.
  • On Thursday, March 1st, Frank Slootman sold 100,000 shares of ServiceNow stock. The shares were sold at an average price of $160.19, for a total transaction of $16,019,000.00.
  • On Tuesday, February 20th, Frank Slootman sold 5,442 shares of ServiceNow stock. The shares were sold at an average price of $156.91, for a total transaction of $853,904.22.

Shares of ServiceNow opened at $173.94 on Monday, according to Marketbeat. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.74. ServiceNow has a twelve month low of $99.01 and a twelve month high of $182.59. The stock has a market cap of $30.73 billion, a price-to-earnings ratio of -165.66, a P/E/G ratio of 29.96 and a beta of 1.07.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 25th. The information technology services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.19. ServiceNow had a negative net margin of 4.65% and a negative return on equity of 10.63%. The company had revenue of $589.20 million for the quarter, compared to analyst estimates of $570.63 million. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. equities analysts anticipate that ServiceNow will post 0.13 EPS for the current year.

NOW has been the subject of a number of research reports. KeyCorp upped their target price on shares of ServiceNow from $165.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, March 19th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and issued a $160.00 target price (up from $140.00) on shares of ServiceNow in a report on Monday, January 22nd. Royal Bank of Canada upped their target price on shares of ServiceNow to $180.00 and gave the company a “top pick” rating in a report on Monday, April 2nd. Barclays upped their target price on shares of ServiceNow from $158.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $165.00 price target on shares of ServiceNow in a research note on Sunday, February 11th. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. ServiceNow currently has a consensus rating of “Buy” and an average price target of $169.07.

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of ServiceNow by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 160,910 shares of the information technology services provider’s stock valued at $18,910,000 after purchasing an additional 2,766 shares during the last quarter. Bank of Montreal Can grew its position in shares of ServiceNow by 29.6% in the fourth quarter. Bank of Montreal Can now owns 160,344 shares of the information technology services provider’s stock valued at $20,907,000 after purchasing an additional 36,632 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of ServiceNow by 5.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 320,719 shares of the information technology services provider’s stock valued at $41,819,000 after purchasing an additional 15,138 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of ServiceNow by 149.7% in the fourth quarter. State of Alaska Department of Revenue now owns 21,803 shares of the information technology services provider’s stock valued at $2,841,000 after purchasing an additional 13,070 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $131,000. Institutional investors own 97.84% of the company’s stock.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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

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