ServiceNow, Inc. (NYSE:NOW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ServiceNow, Inc. (NYSE:NOW) has been assigned a consensus rating of “Moderate Buy” from the twenty-eight analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $1,022.37.

A number of research analysts recently issued reports on NOW shares. Robert W. Baird raised their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Scotiabank began coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. 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 report on Thursday, October 17th. Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is owned by company insiders.

Institutional Trading of ServiceNow

Hedge funds have recently made changes to their positions in the stock. Polymer Capital Management HK LTD grew its position in ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after acquiring an additional 981 shares during the last quarter. AXA S.A. grew its holdings in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC lifted its stake in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the last quarter. Finally, HWG Holdings LP purchased a new stake in ServiceNow during the second quarter valued at about $2,679,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,128.51 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $232.47 billion, a PE ratio of 175.51, a PEG ratio of 6.45 and a beta of 0.99. The firm has a 50 day moving average of $987.03 and a 200-day moving average of $861.55. ServiceNow has a 12 month low of $637.99 and a 12 month high of $1,147.37.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 EPS. On average, equities research analysts predict that ServiceNow will post 7.07 EPS for the current fiscal year.

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.