ServiceNow, Inc. (NYSE:NOW) Receives $192.61 Consensus Price Target from Analysts

ServiceNow, Inc. (NYSE:NOWGet Free Report) has received an average rating of “Moderate Buy” from the forty-three analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, thirty-three have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $188.5895.

A number of research analysts have recently commented on the stock. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $230.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Evercore reissued an “outperform” rating and set a $175.00 price objective (down from $225.00) on shares of ServiceNow in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft set a $180.00 price objective on ServiceNow in a report on Thursday, January 29th. DA Davidson reiterated a “buy” rating and set a $220.00 price objective on shares of ServiceNow in a research note on Thursday, January 29th. Finally, DZ Bank raised shares of ServiceNow to a “strong-buy” rating in a research report on Thursday, December 18th.

Check Out Our Latest Research Report on NOW

ServiceNow Price Performance

NOW stock opened at $101.98 on Tuesday. The stock has a market capitalization of $106.67 billion, a price-to-earnings ratio of 61.14, a price-to-earnings-growth ratio of 1.71 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. ServiceNow has a 52-week low of $98.00 and a 52-week high of $211.48. The stock’s fifty day simple moving average is $110.44 and its 200-day simple moving average is $147.11.

ServiceNow (NYSE:NOWGet Free Report) last released its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period in the prior year, the firm posted $0.73 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities research analysts expect that ServiceNow will post 8.93 EPS for the current year.

Insider Activity at ServiceNow

In other news, insider Kevin Thomas Mcbride sold 1,400 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares of the company’s stock, valued at $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares of the company’s stock, valued at $820,367.97. This trade represents a 31.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,237 shares of company stock worth $1,697,162. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after buying an additional 34 shares during the last quarter. United Bank raised its holdings in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after acquiring an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its holdings in ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after acquiring an additional 42 shares in the last quarter. Finally, VestGen Advisors LLC boosted its stake in ServiceNow by 62.5% during the 2nd quarter. VestGen Advisors LLC now owns 4,256 shares of the information technology services provider’s stock valued at $4,376,000 after acquiring an additional 1,637 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

About ServiceNow

(Get Free Report)

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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