Analysts Set ServiceNow, Inc. (NYSE:NOW) PT at $1,022.37

Shares of ServiceNow, Inc. (NYSE:NOW) have been assigned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twenty-three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $1,034.96.

NOW has been the subject of a number of research reports. JMP Securities increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday, October 17th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday. Robert W. Baird increased their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus increased their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NOW. World Investment Advisors LLC raised its stake in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the period. International Assets Investment Management LLC raised its stake in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares during the period. Bank of Montreal Can raised its stake in shares of ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares during the period. Wellington Management Group LLP raised its stake in shares of ServiceNow by 24.1% in the third 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 during the period. Finally, FMR LLC raised its stake in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after buying an additional 502,845 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW opened at $1,121.10 on Wednesday. The stock has a fifty day simple moving average of $1,006.82 and a two-hundred day simple moving average of $872.87. 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 company has a market cap of $230.95 billion, a price-to-earnings ratio of 174.35, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99. ServiceNow has a 12-month low of $637.99 and a 12-month high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 earnings per share. Research analysts predict that ServiceNow will post 7.07 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.