ServiceNow's (NOW) Hold (C) Rating Reaffirmed at Weiss Ratings

ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also commented on the company. Citigroup lifted their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. Oppenheimer reaffirmed an "outperform" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Jefferies Financial Group lifted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial lifted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,122.20.

ServiceNow Price Performance

Shares of NYSE NOW opened at $914.15 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a market capitalization of $190.14 billion, a PE ratio of 115.13, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92. The stock's 50-day simple moving average is $910.23 and its 200-day simple moving average is $930.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the company earned $3.13 EPS. The business's quarterly revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts forecast that ServiceNow will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,452 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of ServiceNow

A number of institutional investors have recently bought and sold shares of NOW. Brighton Jones LLC boosted its position in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ServiceNow by 10.0% in the first quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider's stock worth $2,689,000 after acquiring an additional 308 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of ServiceNow by 65.7% in the first quarter. MV Capital Management Inc. now owns 290 shares of the information technology services provider's stock worth $231,000 after acquiring an additional 115 shares during the last quarter. CX Institutional raised its holdings in shares of ServiceNow by 5.8% in the first quarter. CX Institutional now owns 1,149 shares of the information technology services provider's stock worth $915,000 after acquiring an additional 63 shares during the last quarter. Finally, Axecap Investments LLC raised its holdings in shares of ServiceNow by 17.8% in the first quarter. Axecap Investments LLC now owns 5,118 shares of the information technology services provider's stock worth $4,075,000 after acquiring an additional 773 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other 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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