ServiceNow (NYSE:NOW) Shares Up 2.5%

ServiceNow, Inc. (NYSE:NOW)’s stock price rose 2.5% during mid-day trading on Tuesday . The company traded as high as $743.62 and last traded at $740.11. Approximately 335,616 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,168,237 shares. The stock had previously closed at $721.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group upped their price objective on ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Citigroup raised their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Mizuho increased their target price on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Finally, Royal Bank of Canada upped their price target on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $780.37.

ServiceNow Trading Up 2.7 %

The stock has a market cap of $152.30 billion, a PE ratio of 88.00, a PEG ratio of 4.51 and a beta of 0.97. The company’s fifty day moving average is $762.90 and its 200-day moving average is $705.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business posted $0.88 EPS. The company’s revenue was up 25.6% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NOW. Norges Bank acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $1,648,259,000. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after buying an additional 820,465 shares in the last quarter. FMR LLC raised its position in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of ServiceNow in the first quarter worth about $403,034,000. Finally, Jennison Associates LLC boosted its position in ServiceNow by 23.0% during the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after acquiring an additional 461,614 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.