ServiceNow (NYSE:NOW) Upgraded by Wall Street Zen to "Buy" Rating

ServiceNow (NYSE:NOW - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.

A number of other brokerages have also recently commented on NOW. Cantor Fitzgerald restated an "overweight" rating and set a $1,048.00 target price on shares of ServiceNow in a report on Thursday, April 24th. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Citigroup raised their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Mizuho lifted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Finally, Barclays set a $1,085.00 price target on ServiceNow in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,065.32.

ServiceNow Stock Up 1.2%

Shares of NOW stock traded up $12.12 during midday trading on Friday, reaching $1,023.56. 1,514,258 shares of the stock were exchanged, compared to its average volume of 1,486,132. ServiceNow has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a market cap of $211.86 billion, a PE ratio of 139.07, a price-to-earnings-growth ratio of 4.65 and a beta of 0.95. The company's 50 day moving average is $985.61 and its two-hundred day moving average is $967.23. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15.

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, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm's revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.41 earnings per share. On average, equities research analysts predict that ServiceNow will post 8.93 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Deborah Black sold 598 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 428 shares in the company, valued at $402,418.44. This trade represents a 58.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC raised its holdings 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 period. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the first quarter worth about $26,000. Quarry LP bought a new position in shares of ServiceNow in the fourth quarter worth about $27,000. Atala Financial Inc bought a new position in shares of ServiceNow in the fourth quarter worth about $28,000. Finally, WASHINGTON TRUST Co lifted its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.

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