ServiceNow, Inc. (NYSE:NOW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ServiceNow, Inc. (NYSE:NOW) have been given an average rating of “Moderate Buy” by the twenty-seven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $849.62.

NOW has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler lifted their price target on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th.

ServiceNow Stock Performance

Shares of NOW opened at $825.39 on Monday. The company has a market capitalization of $169.20 billion, a price-to-earnings ratio of 88.28, a PEG ratio of 5.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow has a 1 year low of $527.24 and a 1 year high of $863.85. The company’s 50 day simple moving average is $799.33 and its 200 day simple moving average is $762.78.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. On average, sell-side analysts predict that ServiceNow will post 6.78 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc grew its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow in the fourth quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow in the second quarter valued at approximately $32,000. Institutional investors and hedge funds 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.