ServiceNow (NYSE:NOW) Shares Up 0.1% Following Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW)’s stock price shot up 0.1% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $875.00 to $900.00. Wells Fargo & Company currently has an overweight rating on the stock. ServiceNow traded as high as $743.03 and last traded at $736.74. 330,609 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,171,895 shares. The stock had previously closed at $735.81.

NOW has been the topic of a number of other reports. Barclays raised their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada lifted their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Mizuho raised their price target on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Truist Financial raised their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $780.00.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction 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 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 SEC, which is available at this link. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

A number of institutional investors have recently added to or reduced their stakes in NOW. PFG Private Wealth Management LLC purchased a new position in ServiceNow in the 3rd quarter valued at about $28,000. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow in the 4th quarter valued at about $29,000. First Capital Advisors Group LLC. purchased a new position in ServiceNow in the 2nd quarter valued at about $29,000. High Net Worth Advisory Group LLC purchased a new position in ServiceNow in the 1st quarter valued at about $29,000. Finally, AdvisorNet Financial Inc boosted its position in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.2 %

The firm has a market cap of $152.93 billion, a price-to-earnings ratio of 88.54, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97. The business’s 50 day moving average price is $768.63 and its 200-day moving average price is $700.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

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