ServiceNow (NYSE:NOW) Stock Price Up 0.9% - Still a Buy?

ServiceNow, Inc. (NYSE:NOW - Get Free Report) was up 0.9% during trading on Monday . The company traded as high as $992.00 and last traded at $985.98. Approximately 296,593 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,507,753 shares. The stock had previously closed at $977.36.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group reiterated a "buy" rating and set a $1,025.00 target price (up previously from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Jefferies Financial Group cut 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 report on Tuesday, April 15th. Mizuho cut their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Citigroup lowered their price objective on shares of ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI lifted their target price on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,041.00.

ServiceNow Stock Up 0.6 %

The firm has a market cap of $203.50 billion, a P/E ratio of 144.13, a PEG ratio of 4.51 and a beta of 1.08. The firm's 50-day moving average price is $839.29 and its 200 day moving average price is $968.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business 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 business earned $3.41 EPS. The business's quarterly revenue was up 18.6% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has initiated a share buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, Director Larry Quinlan sold 415 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the sale, the director now owns 1,737 shares of the company's stock, valued at approximately $1,749,871.17. This trade represents a 19.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the transaction, the director now owns 3,205 shares of the company's stock, valued at approximately $2,985,842.10. The trade was a 19.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,107 shares of company stock valued at $18,591,520. Company insiders own 0.38% 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. Bogart Wealth LLC grew its position in ServiceNow by 113.3% in the 1st 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 last quarter. Graybill Wealth Management LTD. acquired a new stake in ServiceNow in the 1st quarter valued at approximately $26,000. Quarry LP bought a new stake in ServiceNow during the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in ServiceNow during the 4th quarter worth $28,000. Finally, WASHINGTON TRUST Co grew its stake 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. Institutional investors and hedge funds own 87.18% of the company's stock.

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.

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