ServiceNow, Inc. (NYSE:NOW) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of ServiceNow, Inc. (NYSE:NOW) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-six have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $842.22.

Several brokerages recently weighed in on NOW. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Thursday, July 25th. TD Cowen boosted their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup lifted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.

ServiceNow Stock Down 0.5 %

NOW opened at $806.62 on Thursday. ServiceNow has a twelve month low of $527.24 and a twelve month high of $850.33. The company’s 50-day moving average price is $760.07 and its two-hundred day moving average price is $755.83. The stock has a market cap of $165.36 billion, a price-to-earnings ratio of 86.27, a PEG ratio of 4.82 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, equities analysts expect that ServiceNow will post 6.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders sold a total of 9,139 shares of company stock valued at $6,913,787 over the last 90 days. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors have recently added to or reduced their stakes in NOW. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the period. Jennison Associates LLC boosted its stake in shares of ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares during the period. Norges Bank bought a new position in shares of ServiceNow in the fourth quarter worth approximately $1,648,259,000. Massachusetts Financial Services Co. MA increased its stake in shares of ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after buying an additional 81,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Company Profile

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.