ServiceNow (NYSE:NOW) Shares Up 1.2% on Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW) rose 1.2% on Wednesday after Citigroup raised their price target on the stock from $896.00 to $906.00. Citigroup currently has a buy rating on the stock. ServiceNow traded as high as $749.00 and last traded at $744.78. Approximately 1,085,831 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 904,049 shares. The stock had previously closed at $735.81.

A number of other research analysts have also recently commented on NOW. Oppenheimer raised their price target on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Truist Financial raised their price target on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday. UBS Group raised their price target on shares of ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research note on Monday. Finally, BMO Capital Markets raised their price target on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $780.37.

Insider Buying and Selling

In related news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last quarter. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

A number of institutional investors have recently bought and sold shares of the business. RB Capital Management LLC grew its holdings in shares of ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 192 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of ServiceNow by 17.9% in the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after buying an additional 133 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after buying an additional 1,689 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after buying an additional 29 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of ServiceNow by 0.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock valued at $6,499,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.7 %

The company has a market cap of $150.23 billion, a price-to-earnings ratio of 86.98, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $766.17 and its 200-day moving average price is $700.64.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

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.