ServiceNow Inc (NYSE:NOW) insider Chirantan Jitendra Desai sold 6,962 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $266.96, for a total value of $1,858,575.52. Following the completion of the sale, the insider now directly owns 29,578 shares in the company, valued at approximately $7,896,142.88. The transaction was disclosed in a document filed with the SEC, which is available through this link.

NYSE:NOW traded up $6.13 during mid-day trading on Tuesday, reaching $271.21. 870,757 shares of the stock were exchanged, compared to its average volume of 2,004,498. The company has a market capitalization of $50.64 billion, a PE ratio of 1,356.05, a P/E/G ratio of 20.13 and a beta of 1.45. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88. ServiceNow Inc has a 1 year low of $147.63 and a 1 year high of $281.74.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. The firm had revenue of $788.93 million for the quarter, compared to the consensus estimate of $768.09 million. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. As a group, sell-side analysts anticipate that ServiceNow Inc will post 0.48 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the business. Jennison Associates LLC grew its stake in shares of ServiceNow by 26.2% in the 1st quarter. Jennison Associates LLC now owns 3,036,568 shares of the information technology services provider’s stock valued at $748,484,000 after purchasing an additional 630,491 shares during the last quarter. Coatue Management LLC grew its stake in shares of ServiceNow by 38.6% in the 4th quarter. Coatue Management LLC now owns 2,129,852 shares of the information technology services provider’s stock valued at $379,220,000 after purchasing an additional 592,759 shares during the last quarter. American Century Companies Inc. grew its stake in shares of ServiceNow by 14.6% in the 4th quarter. American Century Companies Inc. now owns 1,772,188 shares of the information technology services provider’s stock valued at $315,538,000 after purchasing an additional 226,028 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ServiceNow by 11.2% in the 1st quarter. Geode Capital Management LLC now owns 1,708,503 shares of the information technology services provider’s stock valued at $420,790,000 after purchasing an additional 172,153 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $297,403,000. Institutional investors own 94.02% of the company’s stock.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised ServiceNow from a “hold” rating to a “buy” rating and set a $299.00 price target on the stock in a research report on Tuesday, April 30th. Argus increased their price target on ServiceNow from $260.00 to $304.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Deutsche Bank increased their price target on ServiceNow from $285.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Royal Bank of Canada increased their price target on ServiceNow to $285.00 and gave the company a “top pick” rating in a research report on Tuesday, May 7th. Finally, Canaccord Genuity increased their price target on ServiceNow from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company. ServiceNow presently has an average rating of “Buy” and a consensus price target of $268.24.

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About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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