ServiceNow, Inc. (NYSE:NOW) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of ServiceNow, Inc. (NYSE:NOW) have been assigned a consensus rating of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $974.04.

NOW has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Oppenheimer raised their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Citigroup boosted their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Piper Sandler raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,011.39 on Friday. ServiceNow has a 52 week low of $637.99 and a 52 week high of $1,061.66. The business’s 50 day moving average price is $928.75 and its 200 day moving average price is $821.23. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $208.35 billion, a P/E ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98.

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

Insider Activity

In related news, Director Jeffrey A. Miller sold 2,879 shares of the 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 value of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,325 shares of company stock worth $5,024,928 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

A number of hedge funds and other institutional investors have recently modified their holdings of NOW. Quent Capital LLC increased its position in shares of ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after acquiring an additional 30 shares during the last quarter. M&G Plc acquired a new stake in ServiceNow in the 1st quarter valued at approximately $11,030,000. Nicolet Advisory Services LLC lifted its stake in ServiceNow by 26.8% during the first quarter. Nicolet Advisory Services LLC now owns 600 shares of the information technology services provider’s stock worth $469,000 after purchasing an additional 127 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of ServiceNow by 411.5% during the first quarter. Intech Investment Management LLC now owns 5,938 shares of the information technology services provider’s stock worth $4,527,000 after buying an additional 4,777 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after buying an additional 271,073 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.