Frederic B. Luddy Sells 6,600 Shares of ServiceNow, Inc. (NYSE:NOW) Stock



ServiceNow, Inc. (NYSE:NOW – Get Rating) Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock sold at an average price of $465.86, for a total transaction of $3,074,676.00. Following the completion of the sale, the director now directly owns 33,000 shares in the company, valued at approximately $15,373,380. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Frederic B. Luddy also recently made the following trade(s):

  • On Wednesday, June 8th, Frederic B. Luddy sold 707 shares of ServiceNow stock. The stock sold at an average price of $501.92, for a total transaction of $354,857.44.

ServiceNow Stock Up 0.4%

NOW opened at $494.85 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow, Inc. has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a market capitalization of $99.96 billion, a PE ratio of 543.79, a PEG ratio of 10.00 and a beta of 0.94. The firm’s 50 day simple moving average is $466.30 and its two-hundred day simple moving average is $503.62.

ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $0.38 EPS. ServiceNow’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, equity analysts forecast that ServiceNow, Inc. will post 1.73 EPS for the current year.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently bought and sold shares of NOW. M&T Bank Corp increased its stake in ServiceNow by 8.1% in the 2nd quarter. M&T Bank Corp now owns 24,752 shares of the information technology services provider’s stock worth $11,474,000 after buying an additional 1,846 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its stake in ServiceNow by 7.1% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 1,025 shares of the information technology services provider’s stock worth $487,000 after buying an additional 68 shares in the last quarter. Pinebridge Investments LP increased its stake in ServiceNow by 46.9% in the 2nd quarter. Pinebridge Investments LP now owns 71,725 ​​shares of the information technology services provider’s stock worth $34,107,000 after buying an additional 22,885 shares in the last quarter. Zions Bancorporation NA increased its stake in ServiceNow by 9.3% in the 2nd quarter. Zions Bancorporation NA now owns 956 shares of the information technology services provider’s stock worth $455,000 after buying an additional 81 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its stake in ServiceNow by 8.2% in the 2nd quarter. Gilbert & Cook Inc. now owns 1,113 shares of the information technology services provider’s stock worth $529,000 after buying an additional 84 shares in the last quarter. 87.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equity research analysts have issued reports on NOW shares. Credit Suisse Group cut their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Mizuho dropped their target price on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. KeyCorp dropped their target price on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. JMP Securities dropped their target price on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research report on Thursday, July 28th. Finally, Cowen dropped their target price on shares of ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $601.80.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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