ServiceNow, Inc. (NYSE:NOW) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirty-three ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $1,062.50.

Several research analysts have commented on the company. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and raised their price objective for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. JMP Securities restated a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Robert W. Baird boosted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The stock was 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 owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anita M. Sands sold 248 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the transaction, the director now owns 10,643 shares of the company's stock, valued at approximately $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by insiders.

Institutional Trading of ServiceNow

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bogart Wealth LLC lifted its position in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter worth $26,000. Quarry LP acquired a new stake in shares of ServiceNow in the fourth quarter valued at $27,000. Atala Financial Inc bought a new position in ServiceNow during the fourth quarter valued at about $28,000. Finally, WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 31 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 0.5%

Shares of NYSE:NOW traded up $5.07 during trading on Wednesday, reaching $1,017.81. 901,861 shares of the stock were exchanged, compared to its average volume of 1,799,831. The firm's 50-day moving average price is $910.63 and its 200 day moving average price is $974.82. The firm has a market cap of $210.67 billion, a price-to-earnings ratio of 149.02, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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 the consensus estimate of $3.09 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow will post 8.93 earnings per share 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.