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

ServiceNow, Inc. (NYSE:NOW - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-eight analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $974.04.

Several equities analysts have recently weighed in on the company. Citigroup increased their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a "buy" rating in a report on Friday, October 25th. Piper Sandler increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Sanford C. Bernstein increased their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th.

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 94 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company's stock, valued at $3,319,372.48. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,325 shares of company stock valued at $5,024,928 in the last 90 days. Insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider's stock valued at $3,753,828,000 after purchasing an additional 78,378 shares during the period. Resources Management Corp CT ADV increased its position in shares of ServiceNow by 1.6% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,286 shares of the information technology services provider's stock valued at $1,150,000 after purchasing an additional 20 shares during the last quarter. Abel Hall LLC raised its holdings in ServiceNow by 4.9% during the 3rd quarter. Abel Hall LLC now owns 281 shares of the information technology services provider's stock valued at $251,000 after buying an additional 13 shares during the period. Continuum Advisory LLC lifted its position in ServiceNow by 46.9% in the third quarter. Continuum Advisory LLC now owns 141 shares of the information technology services provider's stock worth $126,000 after buying an additional 45 shares during the last quarter. Finally, LRI Investments LLC boosted its stake in ServiceNow by 15.6% during the third quarter. LRI Investments LLC now owns 1,094 shares of the information technology services provider's stock worth $978,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 2.7 %

NOW stock traded down $28.41 during trading on Friday, hitting $1,011.39. 1,498,472 shares of the stock traded hands, compared to its average volume of 1,281,121. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $208.35 billion, a price-to-earnings ratio of 157.29, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98. ServiceNow has a 1 year low of $637.99 and a 1 year high of $1,061.66. The firm's 50 day moving average is $932.47 and its two-hundred day moving average is $823.24.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business's quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. On average, sell-side analysts anticipate that ServiceNow will post 7.07 EPS for the current 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.