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

ServiceNow, Inc. (NYSE:NOW) has received an average rating of “Moderate Buy” from the twenty-seven brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $923.00.

Several analysts recently issued reports on NOW shares. JMP Securities raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus boosted their target price on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. Finally, Piper Sandler upped their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th.

ServiceNow Stock Performance

NYSE NOW opened at $918.34 on Tuesday. The firm has a market cap of $188.26 billion, a price-to-earnings ratio of 98.22, a PEG ratio of 5.63 and a beta of 0.99. The company has a 50-day simple moving average of $876.85 and a two-hundred day simple moving average of $793.35. 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 has a 12-month low of $527.24 and a 12-month high of $949.59.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the business posted $0.77 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow will post 6.78 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,267 shares of company stock worth $5,935,447. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the 1st quarter worth $25,000. Versant Capital Management Inc grew its holdings in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. EntryPoint Capital LLC increased its position 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 buying an additional 39 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of ServiceNow in the second quarter worth about $32,000. Finally, TFC Financial Management Inc. lifted its position in shares of ServiceNow by 466.7% during the 1st quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 42 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.