ServiceNow, Inc. (NYSE:NOW) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirty-five brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $1,065.32.

A number of research firms have recently weighed in on NOW. Stifel Nicolaus increased their price objective on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada raised their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Bank of America dropped their price target on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen raised ServiceNow from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Morgan Stanley raised their price target on ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th.

Insider Activity

In other news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director now owns 10,891 shares of the company's stock, valued at $11,039,226.51. This trade represents a 3.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 in the last 90 days. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Large investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of ServiceNow during the 4th quarter valued at about $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the 4th quarter valued at about $32,000. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $34,000. Finally, Bogart Wealth LLC lifted its position in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after buying an additional 17 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 1.2%

Shares of NYSE NOW opened at $1,023.56 on Friday. ServiceNow has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The firm's 50 day simple moving average is $985.61 and its two-hundred day simple moving average is $965.98. The stock has a market capitalization of $211.86 billion, a P/E ratio of 139.07, a PEG ratio of 4.70 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.41 earnings per share. As a group, analysts expect that ServiceNow will post 8.93 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.

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