ServiceNow, Inc. (NYSE:NOW) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirty-two ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twenty-eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $1,057.17.

NOW has been the subject of a number of research reports. Guggenheim reiterated a "sell" rating and set a $716.00 price objective on shares of ServiceNow in a report on Wednesday. Raymond James cut their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird lowered their price target on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Citigroup reduced their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Finally, Truist Financial lowered their target price on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating on the stock in a research report on Monday, March 31st.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company's stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,435,554.47. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,250 shares of company stock worth $19,853,273 over the last three months. Corporate insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC raised its stake in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after acquiring an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its position in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after purchasing an additional 10 shares during the last quarter. Institute for Wealth Management LLC. grew its position in shares of ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after buying an additional 11 shares during the last quarter. TBH Global Asset Management LLC increased its stake in shares of ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after buying an additional 11 shares during the period. Finally, Onefund LLC increased its stake in shares of ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after buying an additional 11 shares during the period. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Down 3.1 %

NYSE:NOW traded down $24.48 on Tuesday, reaching $772.18. The company's stock had a trading volume of 1,802,088 shares, compared to its average volume of 1,480,170. The firm has a market cap of $159.84 billion, a PE ratio of 113.06, a PEG ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The business's 50-day moving average price is $852.94 and its two-hundred day moving average price is $970.14. ServiceNow has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts anticipate that ServiceNow will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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.