ServiceNow Inc (NYSE:NOW), a leading provider of cloud-based services that automate enterprise IT operations, has reported an insider sale according to a recent SEC filing. Chief People Officer Jacqueline Canney sold 2,538 shares of the company on February 26, 2024.
The transaction was executed at an average price of $787.85 per share, resulting in a total sale amount of approximately $2,000,000. The insider's sale has altered the holdings of Jacqueline Canney in the company, which, over the past year, has seen a total of 6,836 shares sold by the insider, with no recorded purchases.
The insider transaction history for ServiceNow Inc reveals a pattern of insider sales over the past year, with 80 insider sells and no insider buys recorded. This trend may be of interest to investors and analysts monitoring insider behaviors as an indicator of company performance or valuation.
ServiceNow Inc currently holds a market capitalization of $155.757 billion, reflecting the scale and significance of the company within its industry. The stock's price-earnings ratio stands at 90.34, which is above the industry median of 27.935. This ratio suggests a premium compared to the broader industry, although it is below the company's historical median price-earnings ratio.
In terms of valuation, ServiceNow Inc's shares were trading at $787.85 on the day of the insider's sale, aligning with the company's market cap. The price-to-GF-Value ratio, based on a GF Value of $726.54, is 1.08, indicating that the stock is Fairly Valued according to GuruFocus's intrinsic value estimate. The GF Value is determined by historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
Investors and stakeholders in ServiceNow Inc may consider the recent insider sale as part of their assessment of the company's stock performance and future prospects. It is important to note that insider transactions are only one of many factors that should be considered when evaluating a company's financial health and investment potential.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
