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

ServiceNow, Inc. (NYSE:NOW) has been given an average recommendation of “Moderate Buy” by the twenty-five analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $814.48.

A number of equities analysts recently commented on the company. KeyCorp decreased their price target on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Citigroup lifted their target price on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research note on Tuesday, May 7th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently modified their holdings of NOW. Bison Wealth LLC acquired a new stake in ServiceNow during the 3rd quarter valued at $587,000. Rathbones Group PLC raised its stake in ServiceNow by 84.7% during the 3rd quarter. Rathbones Group PLC now owns 7,305 shares of the information technology services provider’s stock valued at $4,083,000 after purchasing an additional 3,349 shares during the period. Provence Wealth Management Group raised its stake in ServiceNow by 5.7% during the 3rd quarter. Provence Wealth Management Group now owns 591 shares of the information technology services provider’s stock valued at $330,000 after purchasing an additional 32 shares during the period. Acadian Asset Management LLC raised its stake in ServiceNow by 18.0% during the 3rd quarter. Acadian Asset Management LLC now owns 40,040 shares of the information technology services provider’s stock valued at $22,368,000 after purchasing an additional 6,112 shares during the period. Finally, Regal Investment Advisors LLC raised its stake in ServiceNow by 7.0% during the 3rd quarter. Regal Investment Advisors LLC now owns 721 shares of the information technology services provider’s stock valued at $403,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 2.0 %

NYSE:NOW opened at $749.33 on Wednesday. The company has a market capitalization of $153.61 billion, a price-to-earnings ratio of 80.14, a price-to-earnings-growth ratio of 4.60 and a beta of 0.96. ServiceNow has a one year low of $527.24 and a one year high of $815.32. The stock has a 50-day simple moving average of $723.59 and a 200 day simple moving average of $739.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Sell-side analysts predict 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.