ServiceNow, Inc. (NYSE:NOW) Receives $842.22 Average PT from Brokerages

Shares of ServiceNow, Inc. (NYSE:NOW) have earned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $849.62.

A number of equities analysts have issued reports on the company. TD Cowen increased their price target on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wolfe Research reissued an “outperform” rating and set a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. Royal Bank of Canada lifted their price target on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Guggenheim reissued a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Finally, Morgan Stanley boosted their target price on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the sale, the insider now directly owns 3,619 shares in the company, valued at $2,785,725.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares in the company, valued at $2,785,725.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the sale, the insider now directly 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 have sold 9,943 shares of company stock worth $7,566,635. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently made changes to their positions in the stock. Creekmur Asset Management LLC purchased a new position in ServiceNow during the 1st quarter valued at about $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the 4th quarter worth approximately $29,000. Finally, Ridgewood Investments LLC purchased a new stake in ServiceNow in the 2nd quarter worth approximately $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.0 %

Shares of NOW stock opened at $819.02 on Thursday. The stock has a 50 day simple moving average of $765.31 and a 200 day simple moving average of $756.61. ServiceNow has a 1 year low of $527.24 and a 1 year high of $850.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $167.90 billion, a P/E ratio of 87.60, a price-to-earnings-growth ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 EPS. On average, research analysts predict that ServiceNow will post 6.84 earnings per share 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.