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

ServiceNow, Inc. (NYSE:NOW) has earned a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $817.50.

A number of analysts have recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Guggenheim reiterated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Finally, UBS Group cut their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th.

Insider Transactions at ServiceNow

In other news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,530 shares of company stock valued at $3,997,012. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NOW. Norges Bank bought a new position in shares of ServiceNow during the 4th quarter worth approximately $1,648,259,000. Swedbank AB acquired a new position in ServiceNow during the 1st quarter valued at approximately $897,908,000. International Assets Investment Management LLC increased its stake in ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares in the last quarter. Global Assets Advisory LLC acquired a new position in ServiceNow during the 1st quarter valued at approximately $403,034,000. Finally, Cerity Partners LLC increased its stake in ServiceNow by 1,073.7% during the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after purchasing an additional 371,648 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $751.20 on Friday. The company’s 50-day moving average price is $740.55 and its 200-day moving average price is $747.86. ServiceNow has a twelve month low of $527.24 and a twelve month high of $815.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a market cap of $154.00 billion, a PE ratio of 80.34, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. On average, equities research analysts forecast that ServiceNow will post 6.5 EPS 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.