ServiceNow (NYSE:NOW) Stock Price Up 2.5%

ServiceNow, Inc. (NYSE:NOW)’s stock price rose 2.5% during mid-day trading on Tuesday . The stock traded as high as $743.62 and last traded at $740.11. Approximately 335,616 shares changed hands during trading, a decline of 71% from the average daily volume of 1,168,237 shares. The stock had previously closed at $721.95.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. Robert W. Baird lifted their price target on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. KeyCorp started coverage on ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price objective for the company. BMO Capital Markets dropped their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday. Citigroup lifted their price objective on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Jefferies Financial Group lifted their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $779.63.

ServiceNow Trading Up 0.7 %

The business’s 50-day moving average is $761.32 and its two-hundred day moving average is $706.74. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $153.29 billion, a PE ratio of 88.75, a PEG ratio of 4.68 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company’s revenue was up 25.6% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Activity

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NOW. Summit Global Investments purchased a new position in ServiceNow in the third quarter valued at about $209,000. Capital Investment Advisors LLC purchased a new position in ServiceNow in the third quarter valued at about $459,000. Impact Partnership Wealth LLC boosted its holdings in ServiceNow by 672.7% in the third quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 74 shares during the last quarter. Caprock Group LLC boosted its holdings in ServiceNow by 1.0% in the third quarter. Caprock Group LLC now owns 2,693 shares of the information technology services provider’s stock valued at $1,505,000 after purchasing an additional 27 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC boosted its holdings in ServiceNow by 33.3% in the third quarter. Galvin Gaustad & Stein LLC now owns 800 shares of the information technology services provider’s stock valued at $447,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.