ServiceNow (NYSE:NOW) Trading 0.3% Higher After Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW) was up 0.3% during trading on Thursday after Citigroup raised their price target on the stock from $896.00 to $906.00. Citigroup currently has a buy rating on the stock. ServiceNow traded as high as $738.42 and last traded at $738.34. Approximately 197,665 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,163,068 shares. The stock had previously closed at $736.45.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank of Canada increased their price objective on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Truist Financial boosted their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group increased their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $780.37.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated 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 of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of ServiceNow in the fourth quarter worth approximately $1,648,259,000. Moneta Group Investment Advisors LLC boosted its stake in shares of ServiceNow by 69,897.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after acquiring an additional 854,846 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares during the period. FMR LLC increased its stake in shares of ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ServiceNow by 129.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after purchasing an additional 560,908 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.7 %

The company has a 50-day moving average of $766.17 and a two-hundred day moving average of $700.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $150.23 billion, a PE ratio of 86.98, a P/E/G ratio of 4.71 and a beta of 0.97.

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

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.