ServiceNow (NYSE:NOW) Shares Up 0.1% Following Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW)’s stock price rose 0.1% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $875.00 to $900.00. Wells Fargo & Company currently has an overweight rating on the stock. ServiceNow traded as high as $743.03 and last traded at $736.74. Approximately 330,609 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,171,895 shares. The stock had previously closed at $735.81.

Other analysts have also issued reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday. BMO Capital Markets increased their target price on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Robert W. Baird boosted their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup upped their price target on shares of ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $780.00.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 over the last three months. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently made changes to their positions in the business. PFG Private Wealth Management LLC bought a new stake in ServiceNow in the third quarter valued at approximately $28,000. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the 4th quarter valued at $29,000. First Capital Advisors Group LLC. purchased a new stake in ServiceNow during the 2nd quarter valued at $29,000. High Net Worth Advisory Group LLC bought a new stake in ServiceNow in the 1st quarter worth $29,000. Finally, AdvisorNet Financial Inc increased its position in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50 day moving average price is $767.53 and its 200 day moving average price is $700.42. The stock has a market capitalization of $151.09 billion, a P/E ratio of 87.48, a P/E/G ratio of 4.65 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

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.