ServiceNow (NYSE:NOW) Stock Price Up 1.7% - Still a Buy?

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) traded up 1.7% during trading on Tuesday . The stock traded as high as $1,026.97 and last traded at $1,021.03. 227,687 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,523,552 shares. The stock had previously closed at $1,004.37.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Jefferies Financial Group cut their price target on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and set a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Scotiabank set a $1,100.00 price objective on ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Royal Bank of Canada boosted their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Trading Down 0.3%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The business has a 50-day simple moving average of $899.20 and a two-hundred day simple moving average of $974.75. The stock has a market cap of $209.43 billion, a price-to-earnings ratio of 148.14, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping 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 firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm posted $3.41 EPS. The business's revenue was up 18.6% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Anita M. Sands sold 428 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the sale, the director now owns 10,891 shares in the company, valued at approximately $11,039,226.51. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,102 shares of company stock valued at $2,944,038 in the last quarter. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in ServiceNow in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the 4th quarter worth $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth $34,000. Finally, Bogart Wealth LLC grew its holdings in shares of ServiceNow by 113.3% during 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 in the last quarter. Institutional investors 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.