ServiceNow, Inc. (NYSE:NOW) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of ServiceNow, Inc. (NYSE:NOWGet Rating) have been assigned a consensus rating of “Moderate Buy” from the thirty-four research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and eighteen have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $537.26.

Several research firms have recently commented on NOW. Cowen raised their target price on shares of ServiceNow from $510.00 to $520.00 in a research note on Thursday, October 27th. KeyCorp cut their price target on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Wells Fargo & Company cut their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Truist Financial cut their price target on shares of ServiceNow from $550.00 to $525.00 in a report on Thursday, October 27th. Finally, Royal Bank of Canada cut their price target on shares of ServiceNow from $550.00 to $500.00 and set an “outperform” rating for the company in a report on Monday, October 17th.

ServiceNow Stock Down 3.0 %

NOW stock opened at $387.38 on Tuesday. ServiceNow has a one year low of $337.00 and a one year high of $683.96. The stock has a market capitalization of $78.25 billion, a PE ratio of 391.29, a price-to-earnings-growth ratio of 8.07 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.24 and a current ratio of 1.24. The company has a fifty day moving average of $391.50 and a 200-day moving average of $436.68.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 2,666 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the sale, the general counsel now directly owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $385.46, for a total value of $2,544,036.00. Following the sale, the director now directly owns 31,800 shares of the company’s stock, valued at $12,257,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 2,666 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the sale, the general counsel now directly owns 6,627 shares in the company, valued at $2,801,895.60. The disclosure for this sale can be found here. Insiders have sold 22,510 shares of company stock valued at $9,194,284 in the last ninety days. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NOW. Edgewood Management LLC acquired a new position in ServiceNow during the first quarter valued at approximately $1,515,281,000. Polen Capital Management LLC raised its stake in shares of ServiceNow by 26.5% during the third quarter. Polen Capital Management LLC now owns 3,953,299 shares of the information technology services provider’s stock valued at $1,492,805,000 after purchasing an additional 827,285 shares during the period. Tiger Global Management LLC raised its stake in shares of ServiceNow by 51.8% during the third quarter. Tiger Global Management LLC now owns 1,694,117 shares of the information technology services provider’s stock valued at $639,716,000 after purchasing an additional 577,933 shares during the period. Fisher Asset Management LLC raised its stake in shares of ServiceNow by 57.9% during the first quarter. Fisher Asset Management LLC now owns 1,413,079 shares of the information technology services provider’s stock valued at $786,930,000 after purchasing an additional 518,349 shares during the period. Finally, Capital International Investors raised its stake in shares of ServiceNow by 18.1% during the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after purchasing an additional 491,835 shares during the period. 87.49% of the stock is owned by institutional investors and hedge funds.

About ServiceNow

(Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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