ServiceNow (NYSE:NOW) Trading Up 2.6%

ServiceNow, Inc. (NYSE:NOW)’s stock price traded up 2.6% on Friday . The company traded as high as $724.65 and last traded at $713.63. 487,664 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,212,666 shares. The stock had previously closed at $695.72.

Wall Street Analyst Weigh In

NOW has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Robert W. Baird lifted their price objective on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada increased their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Jefferies Financial Group upped their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $807.28.

ServiceNow Price Performance

The company’s 50 day simple moving average is $753.36 and its 200 day simple moving average is $713.00. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $147.19 billion, a PE ratio of 76.65, a PEG ratio of 4.37 and a beta of 0.98.

Insider Activity

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction dated 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 approximately $1,067,831.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the 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 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 accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock valued at $8,538,300 over the last quarter. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Hedge funds and other institutional investors have recently modified their holdings of the company. Argonautica Private Wealth Management Inc. grew its stake in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after buying an additional 13 shares during the period. Wealth Management Partners LLC raised its position in ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares in the last quarter. Optas LLC boosted its position in shares of ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after buying an additional 14 shares during the period. Finally, Trust Co. of Vermont grew its stake in shares of ServiceNow by 8.6% in the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 15 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.