ServiceNow, Inc. (NYSE:NOW) Given Average Recommendation of “Moderate Buy” by Analysts

ServiceNow, Inc. (NYSE:NOW) has been assigned an average recommendation of “Moderate Buy” from the twenty-nine brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twenty-five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $986.39.

NOW has been the subject of several research analyst reports. Needham & Company LLC raised their price objective on shares of ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays boosted their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $900.00 to $960.00 in a research note on Monday, October 21st. UBS Group boosted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Truist Financial raised their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd.

Insider Buying and Selling

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,373 shares of company stock worth $7,139,335. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of NOW. Creekmur Asset Management LLC purchased a new position in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc raised its stake in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Truvestments Capital LLC purchased a new position in ServiceNow during the 3rd quarter worth $30,000. Finally, Ridgewood Investments LLC bought a new stake in ServiceNow during the 2nd quarter valued at $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NYSE NOW opened at $1,022.98 on Friday. The stock has a market capitalization of $210.73 billion, a PE ratio of 159.10, a P/E/G ratio of 5.80 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50 day simple moving average is $941.65 and its two-hundred day simple moving average is $830.81. ServiceNow has a 1 year low of $637.99 and a 1 year high of $1,061.66.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business earned $1.21 earnings per share. The business’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts predict that ServiceNow will post 7.07 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.