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

ServiceNow, Inc. (NYSE:NOW) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twenty-five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $849.62.

NOW has been the topic of a number of recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. Wells Fargo & Company lifted their price target on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Guggenheim reissued a “sell” rating and set a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Finally, Citigroup boosted their target price on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th.

ServiceNow Stock Performance

Shares of NOW stock opened at $855.00 on Monday. The business has a 50 day moving average of $791.80 and a two-hundred day moving average of $760.54. The company has a market cap of $176.13 billion, a P/E ratio of 91.44, a PEG ratio of 5.13 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow has a 52 week low of $527.24 and a 52 week high of $857.25.

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

Insiders Place Their Bets

In other ServiceNow news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The shares were 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. In the last three months, insiders have sold 7,129 shares of company stock worth $5,759,436. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently modified their holdings of NOW. Vanguard Group Inc. grew its stake in shares of ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares during the last quarter. Norges Bank acquired a new position in ServiceNow during the 4th quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA raised its stake in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after purchasing an additional 34,855 shares during the last quarter. Institutional investors and hedge funds 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.