ServiceNow (NYSE:NOW) Reaches New 12-Month High at $944.69

ServiceNow, Inc. (NYSE:NOW)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $944.69 and last traded at $937.41, with a volume of 50932 shares. The stock had previously closed at $937.36.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen upped their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Stock Up 0.8 %

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $822.56 and a 200-day simple moving average of $771.66. The company has a market cap of $193.69 billion, a PE ratio of 100.25, a P/E/G ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced 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. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Equities research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’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 of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 transaction, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The shares were 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 approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

A number of large investors have recently made changes to their positions in NOW. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.8% in the 1st 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in ServiceNow by 18.3% during the fourth 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 worth $1,239,198,000 after purchasing an additional 271,153 shares during the last quarter. Bank of New York Mellon Corp raised its stake in ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares during the period. Fisher Asset Management LLC boosted its holdings in ServiceNow by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after purchasing an additional 101,485 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.