ServiceNow, Inc. (NYSE:NOW) Receives $1,055.83 Average Target Price from Brokerages

ServiceNow, Inc. (NYSE:NOW - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirty-three analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, twenty-nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $1,055.83.

Several equities research analysts have recently weighed in on the company. Guggenheim upped their target price on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research report on Thursday, April 24th. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada upped their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday. Citigroup boosted their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Piper Sandler cut their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 257 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $253,145.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,981,595. This represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,150 shares of company stock valued at $16,550,424 over the last three months. Company insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC grew its holdings in shares of ServiceNow by 113.3% during the first 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. Graybill Wealth Management LTD. purchased a new position in ServiceNow during the 1st quarter valued at about $26,000. Quarry LP acquired a new position in shares of ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $28,000. Finally, WASHINGTON TRUST Co lifted its position in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.7 %

Shares of NYSE:NOW traded up $6.64 during trading on Friday, reaching $981.13. 919,297 shares of the stock were exchanged, compared to its average volume of 1,513,425. ServiceNow has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm's 50-day moving average price is $844.85 and its 200 day moving average price is $970.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $203.09 billion, a price-to-earnings ratio of 143.65, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

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 (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The business's quarterly revenue was up 18.6% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.