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

ServiceNow, Inc. (NYSE:NOW) has been given a consensus recommendation of “Moderate Buy” by the twenty-six analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-four have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $855.44.

A number of research firms recently issued reports on NOW. JMP Securities raised their target price on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a research note on Tuesday, July 23rd. Wells Fargo & Company raised their target price on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Truist Financial raised their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of large investors have recently modified their holdings of NOW. Trexquant Investment LP acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $1,081,000. Hilltop Holdings Inc. lifted its position in shares of ServiceNow by 11.8% during the fourth quarter. Hilltop Holdings Inc. now owns 599 shares of the information technology services provider’s stock worth $423,000 after purchasing an additional 63 shares in the last quarter. Fiduciary Trust Co lifted its position in shares of ServiceNow by 0.8% during the fourth quarter. Fiduciary Trust Co now owns 4,860 shares of the information technology services provider’s stock worth $3,434,000 after purchasing an additional 37 shares in the last quarter. Avestar Capital LLC lifted its position in shares of ServiceNow by 65.8% during the fourth quarter. Avestar Capital LLC now owns 965 shares of the information technology services provider’s stock worth $682,000 after purchasing an additional 383 shares in the last quarter. Finally, Harvest Investment Services LLC acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $235,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Up 1.2 %

ServiceNow stock opened at $890.62 on Friday. The company has a market capitalization of $182.58 billion, a P/E ratio of 95.25, a P/E/G ratio of 5.55 and a beta of 0.98. The firm’s fifty day simple moving average is $846.64 and its 200-day simple moving average is $779.47. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow has a 1-year low of $527.24 and a 1-year high of $945.46.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the business posted $0.77 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow will post 6.78 earnings per share for the current fiscal 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.