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

ServiceNow, Inc. (NYSE:NOW) has received a consensus rating of “Moderate Buy” from the thirty-three brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, twenty-nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $1,062.50.

A number of equities research analysts have recently issued reports on NOW shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,048.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Sanford C. Bernstein restated an “outperform” rating and issued a $1,003.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, May 14th. Stifel Nicolaus lifted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, Barclays set a $1,085.00 price objective on shares of ServiceNow in a report on Wednesday, May 7th.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 62 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,431,636. The trade was a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,096,621. This represents a 2.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock worth $15,522,335,000 after buying an additional 297,734 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after buying an additional 509,467 shares during the last quarter. FMR LLC lifted its position in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after buying an additional 272,506 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after buying an additional 100,670 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after purchasing an additional 188,292 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $1,011.96 on Wednesday. The company’s 50 day simple moving average is $906.32 and its 200-day simple moving average is $974.56. The company has a market capitalization of $209.46 billion, a price-to-earnings ratio of 148.16, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow has a 1 year low of $656.02 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.41 EPS. As a group, equities research analysts expect that ServiceNow will post 8.93 earnings per share for the current year.

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.