ServiceNow, Inc. (NYSE:NOW) Receives Average Recommendation of “Moderate Buy” from Brokerages

ServiceNow, Inc. (NYSE:NOW) has been assigned an average rating of “Moderate Buy” from the twenty-eight research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twenty-five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $970.33.

Several research firms recently weighed in on NOW. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group increased their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Thursday. Jefferies Financial Group increased their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Truist Financial boosted their price target on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a report on Wednesday.

ServiceNow Trading Down 0.6 %

NYSE:NOW opened at $950.85 on Tuesday. The company has a market cap of $195.88 billion, a PE ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. The business’s 50 day moving average is $885.56 and its two-hundred day moving average is $797.35. 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 52 week low of $548.44 and a 52 week high of $979.78.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, analysts predict that ServiceNow will post 7.41 EPS for the current year.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the transaction, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction 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 of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the transaction, the director now owns 10,767 shares in the company, valued at approximately $8,850,474. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,467 shares of company stock valued at $4,450,447. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc lifted its stake 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 worth $27,000 after purchasing an additional 28 shares during the period. DT Investment Partners LLC boosted its holdings in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the 2nd quarter worth approximately $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

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.