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

ServiceNow, Inc. (NYSE:NOW)’s share price traded up 1.2% during mid-day trading on Friday . The company traded as high as $814.00 and last traded at $812.02. 904,058 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,638,893 shares. The stock had previously closed at $802.72.

Wall Street Analyst Weigh In

A number of brokerages have commented on NOW. Royal Bank Of Canada reissued an “outperform” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of ServiceNow from $1,020.00 to $1,075.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Macquarie assumed coverage on ServiceNow in a report on Tuesday. They issued a “neutral” rating and a $860.00 target price on the stock. Zacks Research cut ServiceNow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Wells Fargo & Company set a $1,275.00 price objective on ServiceNow in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,149.67.

ServiceNow Trading Up 1.2%

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $168.90 billion, a PE ratio of 98.19, a PEG ratio of 4.11 and a beta of 0.94. The business’s 50-day moving average is $892.60 and its two-hundred day moving average is $939.68.

Shares of ServiceNow are going to split on the morning of Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly created shares will be issued to shareholders after the market closes on Thursday, December 4th.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.61. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. ServiceNow had a return on equity of 19.23% and a net margin of 13.66%.The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.72 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kevin Thomas Mcbride sold 280 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $842.48, for a total value of $235,894.40. Following the completion of the sale, the insider owned 5,054 shares in the company, valued at $4,257,893.92. This represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $827.08, for a total transaction of $77,745.52. Following the sale, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,503,571.16. This represents a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,665 shares of company stock valued at $1,386,791. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Kilter Group LLC purchased a new stake in ServiceNow during the 2nd quarter valued at approximately $25,000. IAG Wealth Partners LLC increased its holdings in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Bogart Wealth LLC raised its stake in shares of ServiceNow by 93.8% during the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 15 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow during the third quarter worth approximately $29,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the second quarter worth $30,000. 87.18% of the stock is currently 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.