ServiceNow, Inc. (NOW) Director Frederic B. Luddy Sells 170,000 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) Director Frederic B. Luddy sold 170,000 shares of ServiceNow stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $129.43, for a total value of $22,003,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of ServiceNow, Inc. (NOW) traded up $0.22 during trading on Friday, reaching $129.19. The company had a trading volume of 1,130,069 shares, compared to its average volume of 1,599,917. ServiceNow, Inc. has a twelve month low of $73.66 and a twelve month high of $131.11. The company has a market cap of $22,278.30, a price-to-earnings ratio of -141.97 and a beta of 1.07. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The firm had revenue of $498.20 million during the quarter, compared to analyst estimates of $491.62 million. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. sell-side analysts predict that ServiceNow, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank increased its holdings in ServiceNow by 3.1% during the 2nd quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock worth $64,300,000 after purchasing an additional 18,200 shares in the last quarter. Allen Investment Management LLC purchased a new position in shares of ServiceNow in the 2nd quarter worth approximately $45,372,000. Investec Asset Management LTD boosted its stake in shares of ServiceNow by 42.9% in the 3rd quarter. Investec Asset Management LTD now owns 66,635 shares of the information technology services provider’s stock worth $7,832,000 after buying an additional 20,014 shares during the last quarter. Jasper Ridge Partners L.P. purchased a new position in shares of ServiceNow in the 3rd quarter worth approximately $1,525,000. Finally, Rockefeller Financial Services Inc. purchased a new position in shares of ServiceNow in the 3rd quarter worth approximately $138,000.

NOW has been the topic of several recent research reports. Robert W. Baird reaffirmed a “buy” rating and set a $120.00 target price on shares of ServiceNow in a report on Friday, September 1st. Northland Securities reissued a “buy” rating and issued a $135.00 price objective on shares of ServiceNow in a research note on Thursday, October 19th. Deutsche Bank boosted their price objective on ServiceNow from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Mizuho reissued a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research note on Wednesday, October 25th. Finally, Bank of America boosted their price objective on ServiceNow from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the stock. ServiceNow presently has an average rating of “Buy” and a consensus price target of $132.17.

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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.

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