ServiceNow (NYSE:NOW) Trading 1.2% Higher – Still a Buy?

ServiceNow, Inc. (NYSE:NOW)’s stock price rose 1.2% on Monday . The stock traded as high as $826.07 and last traded at $822.13. Approximately 1,382,132 shares were traded during trading, a decline of 16% from the average daily volume of 1,637,771 shares. The stock had previously closed at $812.41.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOW shares. Wall Street Zen upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. Piper Sandler reiterated an “overweight” rating and issued a $1,150.00 price objective on shares of ServiceNow in a research report on Thursday, October 30th. Morgan Stanley set a $1,315.00 target price on shares of ServiceNow and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Finally, Macquarie started coverage on ServiceNow in a report on Tuesday, November 25th. They issued a “neutral” rating and a $860.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,149.67.

ServiceNow Stock Up 1.2%

The firm has a market cap of $171.00 billion, a price-to-earnings ratio of 99.41, a PEG ratio of 4.11 and a beta of 0.94. The business has a fifty day simple moving average of $889.57 and a 200 day simple moving average of $936.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow shares are set to split before the market opens on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly issued shares will be issued to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, beating the consensus estimate of $4.21 by $0.61. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. ServiceNow had a return on equity of 19.23% and a net margin of 13.66%.The firm’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.72 EPS. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $827.08, for a total value of $66,993.48. Following the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,582,910.56. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $827.08, for a total transaction of $77,745.52. Following the transaction, the insider owned 3,027 shares in the company, valued at $2,503,571.16. The trade was a 3.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,665 shares of company stock valued at $1,386,791. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

A number of large investors have recently made changes to their positions in the stock. Kilter Group LLC acquired a new position in ServiceNow during the second quarter worth $25,000. IAG Wealth Partners LLC raised its holdings in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of ServiceNow during the 2nd quarter worth $30,000. Total Investment Management Inc. acquired a new position in shares of ServiceNow during the 2nd quarter valued at about $31,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of ServiceNow in the second quarter valued at about $32,000. 87.18% of the stock is currently owned by hedge funds and other 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.