ServiceNow, Inc. (NYSE:NOW) Given Consensus Rating of "Moderate Buy" by Brokerages

ServiceNow, Inc. (NYSE:NOW - Get Free Report) has earned an average rating of "Moderate Buy" from the thirty-one research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twenty-seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $1,100.31.

Several analysts have issued reports on the company. TD Cowen upped their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Royal Bank of Canada set a $986.00 price target on ServiceNow in a report on Tuesday, March 11th. JMP Securities restated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. StockNews.com cut shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th.

ServiceNow Trading Up 2.9 %

NYSE:NOW traded up $23.81 during trading hours on Friday, hitting $851.56. 1,599,198 shares of the company were exchanged, compared to its average volume of 1,352,367. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow has a one year low of $637.99 and a one year high of $1,198.09. The company has a fifty day simple moving average of $971.31 and a 200 day simple moving average of $985.39. The stock has a market capitalization of $175.42 billion, a price-to-earnings ratio of 124.68, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

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ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts expect that ServiceNow will post 8.93 EPS for the current fiscal year.

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

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 in the last ninety days. Company insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently made changes to their positions in the company. United Bank bought a new stake in ServiceNow during the 3rd quarter valued at approximately $480,000. Meeder Asset Management Inc. lifted its position in ServiceNow by 24.7% in the third quarter. Meeder Asset Management Inc. now owns 121 shares of the information technology services provider's stock worth $108,000 after purchasing an additional 24 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of ServiceNow by 5.5% during the 3rd quarter. Avior Wealth Management LLC now owns 594 shares of the information technology services provider's stock worth $531,000 after acquiring an additional 31 shares during the period. Howe & Rusling Inc. boosted its holdings in ServiceNow by 10.4% during the third quarter. Howe & Rusling Inc. now owns 467 shares of the information technology services provider's stock valued at $418,000 after purchasing an additional 44 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in ServiceNow by 19.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,507 shares of the information technology services provider's stock valued at $9,397,000 after buying an additional 1,678 shares in the last quarter. 87.18% of the stock is currently 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.