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

Shares of ServiceNow, Inc. (NYSE:NOW) have been given a consensus recommendation of “Moderate Buy” by the twenty-nine analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $1,053.89.

NOW has been the subject of several analyst reports. Needham & Company LLC boosted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. TD Cowen boosted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Stifel Nicolaus boosted their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Oppenheimer lifted their price target on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th.

ServiceNow Trading Up 1.8 %

Shares of NYSE NOW opened at $1,073.77 on Friday. The company has a market cap of $221.20 billion, a price-to-earnings ratio of 166.99, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The stock’s 50 day simple moving average is $1,053.53 and its 200 day simple moving average is $910.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow has a 12-month low of $637.99 and a 12-month high of $1,157.90.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the firm posted $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities research analysts expect that ServiceNow will post 7.07 EPS for the current year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,629 shares of company stock worth $20,861,626. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently added to or reduced their stakes in NOW. State Street Corp boosted its stake in shares of ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after purchasing an additional 226,023 shares in the last quarter. FMR LLC increased its holdings in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. World Investment Advisors LLC raised its position in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares in the last quarter. Institutional investors and hedge funds 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.