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

ServiceNow, Inc. (NYSE:NOW) has earned a consensus recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the firm, Marketbeat reports. One equities research 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 updated their coverage on the stock in the last year is $1,061.04.

NOW has been the subject of several research reports. Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th.

ServiceNow Trading Down 0.6 %

Shares of NOW stock opened at $1,048.05 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $215.90 billion, a P/E ratio of 162.99, a P/E/G ratio of 6.43 and a beta of 0.99. The business has a fifty day simple moving average of $1,062.40 and a 200-day simple moving average of $919.80. ServiceNow has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) 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 business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts forecast that ServiceNow will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s 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 transaction, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

A number of large investors have recently bought and sold shares of NOW. Parkside Financial Bank & Trust raised its holdings in shares of ServiceNow by 22.6% in the second quarter. Parkside Financial Bank & Trust now owns 679 shares of the information technology services provider’s stock valued at $534,000 after buying an additional 125 shares during the last quarter. Addison Advisors LLC lifted its position in shares of ServiceNow by 29.3% during the second quarter. Addison Advisors LLC now owns 159 shares of the information technology services provider’s stock worth $125,000 after purchasing an additional 36 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of ServiceNow by 58.5% during the second quarter. Private Advisor Group LLC now owns 13,471 shares of the information technology services provider’s stock valued at $10,598,000 after purchasing an additional 4,972 shares during the last quarter. UNIVEST FINANCIAL Corp increased its holdings in shares of ServiceNow by 65.6% in the second quarter. UNIVEST FINANCIAL Corp now owns 717 shares of the information technology services provider’s stock valued at $564,000 after purchasing an additional 284 shares in the last quarter. Finally, Advisor OS LLC raised its position in ServiceNow by 7.7% in the 2nd quarter. Advisor OS LLC now owns 2,708 shares of the information technology services provider’s stock worth $2,130,000 after purchasing an additional 194 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.