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

ServiceNow, Inc. (NYSE:NOW) has been assigned a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $807.28.

NOW has been the topic of several recent analyst reports. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday. Barclays increased their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Citigroup lifted their target price on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Piper Sandler increased their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada lifted their price objective on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred 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 $1,067,831.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were 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 of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,369 shares of company stock valued at $8,538,300. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOW. PFG Private Wealth Management LLC purchased a new position in shares of ServiceNow in the third quarter worth $28,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow during the 4th quarter worth about $29,000. AdvisorNet Financial Inc grew its stake in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of ServiceNow in the third quarter valued at about $35,000. Finally, Disciplined Equity Management Inc. acquired a new position in shares of ServiceNow in the fourth quarter valued at about $35,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.2 %

Shares of NOW stock opened at $721.90 on Tuesday. The company has a market capitalization of $148.26 billion, a price-to-earnings ratio of 77.21, a PEG ratio of 4.83 and a beta of 0.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The company’s fifty day moving average price is $758.35 and its 200-day moving average price is $711.15. ServiceNow has a one year low of $428.97 and a one year high of $815.32.

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.