ServiceNow, Inc. (NYSE:NOW) Receives $1,068.76 Average PT from Brokerages

ServiceNow, Inc. (NYSE:NOW) has been given an average rating of “Moderate Buy” by the thirty-two research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-eight have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $1,057.17.

A number of brokerages recently weighed in on NOW. Redburn Atlantic started coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating for the company. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Mizuho reduced their price objective on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $1,275.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. Finally, BMO Capital Markets reduced their price target on shares of ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating for the company in a report on Friday, April 4th.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $1,007.41, for a total value of $418,075.15. Following the transaction, the director now owns 1,737 shares in the company, valued at $1,749,871.17. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,250 shares of company stock valued at $19,853,273 over the last three months. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in ServiceNow in the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the fourth quarter worth $32,000. FPC Investment Advisory Inc. grew its stake in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new position in ServiceNow in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 3.1 %

NYSE:NOW opened at $772.18 on Tuesday. The company has a market cap of $159.84 billion, a PE ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08. The business’s 50 day moving average is $857.67 and its two-hundred day moving average is $970.18. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, analysts predict that ServiceNow will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a share buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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.