ServiceNow (NYSE:NOW) Hits New 52-Week High at $944.69

ServiceNow, Inc. (NYSE:NOW) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $944.69 and last traded at $937.41, with a volume of 50932 shares. The stock had previously closed at $937.36.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. Citigroup boosted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research report on Tuesday, July 23rd. Robert W. Baird raised their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $855.44.

ServiceNow Trading Up 0.8 %

The stock has a fifty day moving average of $822.56 and a 200 day moving average of $771.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $193.69 billion, a P/E ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm 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 quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on 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 transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 $3,027,502.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 over the last three months. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Trexquant Investment LP purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $1,081,000. Quest Partners LLC purchased a new position in ServiceNow during the 4th quarter valued at about $167,000. CreativeOne Wealth LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at about $249,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of ServiceNow by 28.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 23,145 shares of the information technology services provider’s stock worth $16,351,000 after purchasing an additional 5,095 shares during the period. Finally, Johnson Financial Group Inc. boosted its stake in shares of ServiceNow by 35.0% during the fourth quarter. Johnson Financial Group Inc. now owns 274 shares of the information technology services provider’s stock valued at $194,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.