ServiceNow (NYSE:NOW) Stock Price Up 0.3% on Analyst Upgrade

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) shot up 0.3% during mid-day trading on Thursday after Citigroup raised their price target on the stock from $896.00 to $906.00. Citigroup currently has a buy rating on the stock. ServiceNow traded as high as $738.42 and last traded at $738.34. 197,665 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,163,068 shares. The stock had previously closed at $736.45.

NOW has been the subject of several other research reports. Royal Bank of Canada raised their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. JMP Securities upped their price target on ServiceNow from $665.00 to $825.00 and gave the company a "market outperform" rating in a report on Monday, January 22nd. KeyCorp began coverage on shares of ServiceNow in a research note on Thursday, March 21st. They set an "overweight" rating and a $1,000.00 price objective for the company. Mizuho lifted their price target on ServiceNow from $750.00 to $820.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Finally, BMO Capital Markets upped their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $780.37.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 994 shares of the company's stock, valued at approximately $776,373.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now directly owns 994 shares in the company, valued at $776,373.64. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently bought and sold shares of the company. Sandbox Financial Partners LLC raised its position in ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider's stock valued at $590,000 after purchasing an additional 66 shares in the last quarter. Raymond James & Associates lifted its position in shares of ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider's stock worth $234,135,000 after buying an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider's stock valued at $18,175,000 after buying an additional 3,438 shares in the last quarter. Fifth Third Bancorp boosted its stake in ServiceNow by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider's stock valued at $49,560,000 after buying an additional 3,154 shares in the last quarter. Finally, F M Investments LLC bought a new position in ServiceNow in the third quarter valued at about $1,624,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

The business's fifty day moving average price is $766.17 and its 200 day moving average price is $700.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $150.23 billion, a P/E ratio of 86.98, a PEG ratio of 4.71 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm's revenue was up 25.6% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

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.