ServiceNow (NYSE:NOW) Shares Up 0.8%

ServiceNow, Inc. (NYSE:NOW - Get Free Report) shot up 0.8% on Friday . The company traded as high as $733.55 and last traded at $728.49. 219,891 shares were traded during trading, a decline of 82% from the average session volume of 1,213,413 shares. The stock had previously closed at $722.94.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOW. Stifel Nicolaus restated a "buy" rating and set a $820.00 price objective on shares of ServiceNow in a report on Wednesday, March 20th. Wolfe Research restated an "outperform" rating and set a $830.00 price objective on shares of ServiceNow in a report on Friday. Oppenheimer boosted their price target on ServiceNow from $750.00 to $800.00 and gave the company an "outperform" rating in a research note on Thursday, January 18th. Piper Sandler boosted their price target on ServiceNow from $750.00 to $830.00 and gave the company an "overweight" rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group boosted their price target on ServiceNow from $800.00 to $910.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $808.73.

ServiceNow Price Performance

The firm has a market capitalization of $149.89 billion, a PE ratio of 78.05, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The business's 50 day moving average is $749.50 and its two-hundred day moving average is $717.61.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company's stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the firm's stock in a transaction dated 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 $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company's stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,559 shares of company stock worth $8,674,868. Corporate insiders own 0.25% of the company's stock.

Institutional Trading of ServiceNow

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider's stock worth $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. FMR LLC boosted its holdings in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider's stock worth $2,256,407,000 after acquiring an additional 595,697 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider's stock valued at $1,781,195,000 after acquiring an additional 53,719 shares in the last quarter. Norges Bank purchased a new position in shares of ServiceNow in the 4th quarter worth about $1,648,259,000. Finally, Massachusetts Financial Services Co. MA grew its position in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider's stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

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.

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