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

ServiceNow, Inc. (NYSE:NOW - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirty brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $1,129.93.

Several analysts have recently commented on the stock. Evercore ISI raised their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. BMO Capital Markets raised their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Royal Bank of Canada restated an "outperform" rating and set a $1,210.00 target price on shares of ServiceNow in a research report on Thursday. Finally, Stifel Nicolaus lifted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th.

ServiceNow Stock Down 11.5 %

Shares of NOW traded down $131.96 during midday trading on Thursday, reaching $1,011.67. The stock had a trading volume of 6,195,277 shares, compared to its average volume of 1,655,699. 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 company's fifty day simple moving average is $1,085.21 and its two-hundred day simple moving average is $952.30. The company has a market cap of $208.40 billion, a price-to-earnings ratio of 157.34, a PEG ratio of 5.11 and a beta of 0.99. 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 issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($1.74). ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. Equities research analysts expect that ServiceNow will post 7.06 earnings per share for the current year.

ServiceNow announced that its board has approved a share 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Avidian Wealth Enterprises LLC boosted its position in shares of ServiceNow by 1.8% in 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 period. Redhawk Wealth Advisors Inc. lifted its position in ServiceNow by 2.2% in the fourth 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 period. Catalyst Financial Partners LLC lifted its position in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock worth $1,025,000 after purchasing an additional 11 shares during the period. Institute for Wealth Management LLC. lifted its position in ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after purchasing an additional 11 shares during the period. Finally, First Affirmative Financial Network lifted its position in ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock worth $801,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

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.