ServiceNow (NYSE:NOW) Shares Up 2.5%

by · The Markets Daily

ServiceNow, Inc. (NYSE:NOW – Get Free Report) shares were up 2.5% during trading on Thursday . The company traded as high as $782.25 and last traded at $778.27. Approximately 264,134 shares traded hands during trading, a decline of 78% from the average daily volume of 1,194,222 shares. The stock had previously closed at $759.16.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NOW shares. Mizuho upped their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. UBS Group upped their price objective on shares of ServiceNow from $865.00 to $885.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. KeyCorp started coverage on ServiceNow in a report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 target price on the stock. The Goldman Sachs Group boosted their target price on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada boosted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $762.96.

Read Our Latest Analysis on NOW

ServiceNow Price Performance

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market cap of $155.30 billion, a price-to-earnings ratio of 92.51, a price-to-earnings-growth ratio of 4.82 and a beta of 0.97. The company’s 50-day moving average is $770.47 and its 200-day moving average is $686.12.

ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. Equities research analysts predict that ServiceNow, Inc. will post 6.11 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now owns 994 shares in the company, valued at $776,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last quarter. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently bought and sold shares of NOW. PFG Private Wealth Management LLC bought a new stake in ServiceNow in the third quarter valued at $28,000. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow in the fourth quarter valued at $29,000. First Capital Advisors Group LLC. bought a new stake in ServiceNow in the second quarter valued at $29,000. High Net Worth Advisory Group LLC bought a new stake in ServiceNow in the first quarter valued at $29,000. Finally, AdvisorNet Financial Inc increased its stake in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

About ServiceNow

(Get Free Report)

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.

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