ServiceNow (NYSE:NOW) Shares Up 2.4% - Here's What Happened

Key Points

• Shares rose 2.4% to $136.31 on Monday, with trading volume of 17.44 million shares — about 34% above the average session volume.
• Analysts have trimmed price targets recently (e.g., BNP Paribas cut to $120 while others remain as high as $200), but the consensus rating is a Moderate Buy with a mean target of $204.24.
• Company and insider signals are mixed: insiders sold 15,310 shares (~$2.53M) over the past three months and own 0.34%, institutional ownership is 87.18%, and ServiceNow trades at a $141.5B market cap with a P/E of ~71 while sitting below its 50- and 200-day moving averages.

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) traded up 2.4% on Monday . The company traded as high as $136.63 and last traded at $136.31. 17,441,114 shares were traded during trading, an increase of 34% from the average session volume of 12,971,080 shares. The stock had previously closed at $133.11.

Analysts Set New Price Targets

NOW has been the topic of several research reports. BNP Paribas Exane decreased their price objective on shares of ServiceNow from $186.00 to $120.00 and set a "neutral" rating on the stock in a report on Thursday. Oppenheimer reiterated an "outperform" rating and issued a $175.00 price target (down previously from $200.00) on shares of ServiceNow in a research note on Wednesday, January 21st. KeyCorp restated an "underweight" rating on shares of ServiceNow in a research report on Friday, January 9th. Arete Research set a $200.00 target price on ServiceNow in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of ServiceNow in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.24.

ServiceNow Trading Up 2.4%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $141.54 billion, a price-to-earnings ratio of 70.95, a price-to-earnings-growth ratio of 2.29 and a beta of 0.98. The firm has a fifty day moving average price of $153.50 and a 200-day moving average price of $172.88.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $161.60, for a total value of $242,400.00. Following the completion of the transaction, the director directly owned 47,930 shares in the company, valued at approximately $7,745,488. The trade was a 3.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,525 shares of the company's stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $163.51, for a total transaction of $249,352.75. Following the sale, the insider directly owned 2,705 shares of the company's stock, valued at approximately $442,294.55. This trade represents a 36.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 15,310 shares of company stock valued at $2,533,585. Company insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of NOW. Kilter Group LLC acquired a new position in ServiceNow during the second quarter worth about $25,000. IAG Wealth Partners LLC boosted its stake in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Noble Wealth Management PBC grew its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 128 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in ServiceNow during the 4th quarter worth approximately $26,000. Finally, Albion Financial Group UT lifted its stake in ServiceNow by 400.0% in the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Company Profile

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.