ServiceNow (NYSE:NOW) Stock Price Up 1.4% - Time to Buy?

ServiceNow, Inc. (NYSE:NOW - Get Free Report)'s stock price traded up 1.4% during trading on Thursday . The company traded as high as $1,027.31 and last traded at $1,027.41. 135,891 shares changed hands during trading, a decline of 91% from the average session volume of 1,487,417 shares. The stock had previously closed at $1,012.74.

Analyst Ratings Changes

Several research analysts have commented on NOW shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Stifel Nicolaus raised their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded ServiceNow from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Scotiabank set a $1,100.00 price objective on ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $213.34 billion, a P/E ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. The business has a 50 day moving average price of $915.04 and a 200 day moving average price of $974.91.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the firm earned $3.41 EPS. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity at ServiceNow

In other news, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the transaction, the director now owns 428 shares in the company, valued at $402,418.44. The trade was a 58.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NOW. Brighton Jones LLC boosted its holdings in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow during the fourth quarter worth about $48,802,000. Sargent Investment Group LLC increased its position in shares of ServiceNow by 11.8% during the fourth quarter. Sargent Investment Group LLC now owns 294 shares of the information technology services provider's stock worth $299,000 after purchasing an additional 31 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of ServiceNow by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 8,721 shares of the information technology services provider's stock worth $9,245,000 after purchasing an additional 75 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of ServiceNow by 12.0% in the 4th quarter. Stratos Wealth Advisors LLC now owns 646 shares of the information technology services provider's stock valued at $685,000 after purchasing an additional 69 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.