ServiceNow (NYSE:NOW) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of ServiceNow (NYSE:NOW - Free Report) to a strong-buy rating in a research report report published on Thursday, Marketbeat Ratings reports. The firm currently has $1,332.00 target price on the information technology services provider's stock.

A number of other equities research analysts also recently weighed in on the company. Citigroup lifted their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a "buy" rating in a report on Friday, October 25th. Stifel Nicolaus boosted their price target on ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on shares of ServiceNow from $820.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, KeyCorp cut shares of ServiceNow from an "overweight" rating to a "sector weight" rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,080.38.

ServiceNow Stock Performance

NOW stock traded up $14.86 on Thursday, reaching $1,072.02. 1,079,535 shares of the company were exchanged, compared to its average volume of 944,889. The firm has a market capitalization of $220.84 billion, a PE ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. ServiceNow has a 12 month low of $637.99 and a 12 month high of $1,157.90. The stock's fifty day moving average price is $1,069.67 and its 200 day moving average price is $931.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

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

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the sale, the insider now owns 3,649 shares of the company's stock, valued at approximately $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 quarter, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently modified their holdings of the business. Truvestments Capital LLC bought a new position in ServiceNow during the 3rd quarter worth about $30,000. DT Investment Partners LLC boosted its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after buying an additional 17 shares during the period. Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow during the second quarter worth about $39,000. Oakworth Capital Inc. raised its position in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock valued at $39,000 after buying an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC lifted its stake in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock valued at $46,000 after acquiring an additional 21 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.