ServiceNow (NYSE:NOW) Trading 1.5% Higher – Here’s What Happened

ServiceNow, Inc. (NYSE:NOW) was up 1.5% on Thursday . The company traded as high as $875.00 and last traded at $866.75. Approximately 1,339,054 shares traded hands during trading, a decline of 18% from the average daily volume of 1,625,172 shares. The stock had previously closed at $853.56.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NOW shares. DA Davidson set a $1,250.00 price objective on shares of ServiceNow in a report on Thursday, October 30th. Wells Fargo & Company set a $1,275.00 target price on shares of ServiceNow in a research report on Thursday, October 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,093.00 price target on shares of ServiceNow in a report on Thursday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and issued a $1,120.00 target price on shares of ServiceNow in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,250.00 price target on shares of ServiceNow in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,149.67.

ServiceNow Stock Up 1.5%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $180.28 billion, a PE ratio of 104.81, a P/E/G ratio of 3.57 and a beta of 0.97. The firm’s 50-day moving average price is $875.44 and its two-hundred day moving average price is $927.39.

ServiceNow’s stock is scheduled to split on Thursday, December 18th. The 5-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, December 17th.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, topping the consensus estimate of $4.21 by $0.61. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. ServiceNow had a return on equity of 18.74% and a net margin of 13.66%.The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.72 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 415 shares of ServiceNow stock in a transaction on Friday, December 5th. The stock was sold at an average price of $850.00, for a total value of $352,750.00. Following the transaction, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,393,800. This trade represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Fipps sold 305 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $817.55, for a total value of $249,352.75. Following the sale, the insider owned 541 shares of the company’s stock, valued at $442,294.55. The trade was a 36.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,062 shares of company stock valued at $2,533,585. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NOW. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.6% in the third quarter. Vanguard Group Inc. now owns 20,210,924 shares of the information technology services provider’s stock valued at $18,599,709,000 after purchasing an additional 315,861 shares during the last quarter. State Street Corp increased its holdings in shares of ServiceNow by 1.4% in the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock worth $8,700,970,000 after acquiring an additional 131,080 shares during the period. Geode Capital Management LLC raised its stake in ServiceNow by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 4,574,563 shares of the information technology services provider’s stock valued at $4,684,445,000 after acquiring an additional 88,057 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock worth $2,263,519,000 after acquiring an additional 188,292 shares during the period. Finally, Norges Bank acquired a new position in ServiceNow during the second quarter worth about $2,589,235,000. 87.18% of the stock is 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.