ServiceNow, Inc. (NYSE:NOW) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• ServiceNow, Inc. has received a consensus recommendation of "Moderate Buy" from 34 ratings firms, with 29 firms issuing buy ratings and an average 12-month price target of $1,115.20.
• The company reported a 22.4% year-over-year revenue increase, achieving $3.22 billion in revenue and an EPS of $4.09, exceeding analysts' expectations.
• Insider trading activity shows that Vice Chairman Nicholas Tzitzon sold over 1,171 shares of stock, reducing his ownership by 28.07% in a notable transaction.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirty-four ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $1,115.20.

A number of brokerages have recently commented on NOW. Evercore ISI raised their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Mizuho raised their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, Jefferies Financial Group lifted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research note on Thursday, July 24th.

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Jackson sold 757 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total transaction of $749,808.50. Following the transaction, the director directly owned 588 shares in the company, valued at approximately $582,414. The trade was a 56.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,738 shares of company stock worth $5,713,973. Insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Haverford Trust Co lifted its position in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after buying an additional 10 shares during the last quarter. Ascent Group LLC lifted its position in ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock valued at $1,628,000 after buying an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. lifted its position in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after buying an additional 11 shares during the last quarter. Finally, one8zero8 LLC lifted its position in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $866.89 on Monday. The stock has a market capitalization of $180.31 billion, a price-to-earnings ratio of 109.18, a PEG ratio of 3.91 and a beta of 0.93. ServiceNow has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm's 50 day simple moving average is $967.03 and its 200-day simple moving average is $933.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $3.13 EPS. Analysts expect that ServiceNow will post 8.93 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.