ServiceNow (NYSE:NOW) Trading 0.1% Higher Following Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW) traded up 0.1% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $875.00 to $900.00. Wells Fargo & Company currently has an overweight rating on the stock. ServiceNow traded as high as $743.03 and last traded at $736.74. 330,609 shares changed hands during trading, a decline of 72% from the average session volume of 1,171,895 shares. The stock had previously closed at $735.81.

A number of other analysts also recently weighed in on NOW. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Tuesday. JMP Securities increased their target price on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a report on Monday, January 22nd. Royal Bank of Canada raised their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group increased their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, KeyCorp assumed coverage on shares of ServiceNow in a research note on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $780.00.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of ServiceNow

Large investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow in the 4th quarter valued at $29,000. AdvisorNet Financial Inc boosted its position in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Sachetta LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at $35,000. PFG Private Wealth Management LLC purchased a new stake in ServiceNow during the third quarter valued at $28,000. Finally, Disciplined Equity Management Inc. purchased a new position in shares of ServiceNow in the 4th quarter worth $35,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $769.28 and its 200-day moving average price is $698.87. The stock has a market capitalization of $151.85 billion, a PE ratio of 87.60, a PEG ratio of 4.86 and a beta of 0.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current fiscal 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.