ServiceNow (NYSE:NOW) Shares Up 0.4%

ServiceNow, Inc. (NYSE:NOW)’s share price shot up 0.4% during trading on Wednesday . The stock traded as high as $759.78 and last traded at $757.90. 141,272 shares traded hands during trading, a decline of 89% from the average session volume of 1,275,419 shares. The stock had previously closed at $754.81.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. BMO Capital Markets reduced their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group raised their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Finally, UBS Group reduced their price target on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $814.48.

ServiceNow Stock Up 2.7 %

The stock has a 50 day simple moving average of $724.24 and a 200-day simple moving average of $740.08. The firm has a market cap of $158.70 billion, a PE ratio of 82.79, a PEG ratio of 4.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Sell-side analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 over the last quarter. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

A number of large investors have recently added to or reduced their stakes in NOW. Norges Bank bought a new stake in shares of ServiceNow during the 4th quarter valued at $1,648,259,000. Swedbank AB bought a new stake in shares of ServiceNow during the 1st quarter valued at $897,908,000. International Assets Investment Management LLC grew its position in shares of ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares during the period. Global Assets Advisory LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at $403,034,000. Finally, Cerity Partners LLC grew its position in shares of ServiceNow by 1,073.7% during the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after acquiring an additional 371,648 shares during the period. Institutional investors own 87.18% of the company’s stock.

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.