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

ServiceNow, Inc. (NYSE:NOW) has earned an average recommendation of “Moderate Buy” from the twenty-five research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $814.48.

A number of brokerages have issued reports on NOW. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $825.00 price target on shares of ServiceNow in a report on Tuesday, May 7th. Jefferies Financial Group increased their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. KeyCorp dropped their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,530 shares of company stock worth $3,997,012. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. boosted its holdings in shares of ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after buying an additional 13 shares during the period. Wealth Management Partners LLC raised its position in shares of ServiceNow by 2.7% during the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after buying an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its position in shares of ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares in the last quarter. Optas LLC raised its position in shares of ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after buying an additional 14 shares in the last quarter. Finally, Cedar Wealth Management LLC raised its position in shares of ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.7 %

NYSE:NOW opened at $730.38 on Wednesday. The company has a market capitalization of $149.73 billion, a PE ratio of 78.12, a P/E/G ratio of 4.57 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow has a 1-year low of $527.24 and a 1-year high of $815.32. The firm’s 50-day moving average price is $725.46 and its 200-day moving average price is $738.15.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, equities analysts predict that ServiceNow will post 6.5 EPS for the current fiscal year.

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.