ServiceNow (NYSE:NOW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ServiceNow (NYSE:NOW) from a hold rating to a buy rating in a report released on Saturday morning.

Several other brokerages also recently commented on NOW. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $240.00 price objective on shares of ServiceNow in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 price objective on shares of ServiceNow in a report on Monday, October 27th. The Goldman Sachs Group reissued a “buy” rating and set a $250.00 target price on shares of ServiceNow in a research note on Thursday, October 30th. Finally, Barclays raised their target price on shares of ServiceNow from $242.00 to $245.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $223.53.

ServiceNow Trading Up 0.4%

NOW opened at $154.52 on Friday. The firm’s fifty day moving average is $168.71 and its two-hundred day moving average is $181.16. The firm has a market cap of $160.45 billion, a PE ratio of 93.42, a price-to-earnings-growth ratio of 3.20 and a beta of 0.97. ServiceNow has a twelve month low of $135.73 and a twelve month high of $239.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.06 and a current ratio of 1.06.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $161.60, for a total transaction of $242,400.00. Following the completion of the transaction, the director directly owned 47,930 shares in the company, valued at $7,745,488. This represents a 3.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,610 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $165.42, for a total value of $431,735.76. Following the completion of the transaction, the insider owned 15,000 shares of the company’s stock, valued at $2,481,240. The trade was a 14.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,310 shares of company stock valued at $2,533,585 in the last three months. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Kilter Group LLC bought a new position in shares of ServiceNow in the second quarter valued at $25,000. IAG Wealth Partners LLC increased its stake in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares during the last quarter. Bogart Wealth LLC raised its holdings in shares of ServiceNow by 93.8% in the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 15 shares during the period. Wealth Watch Advisors INC acquired a new stake in ServiceNow in the 3rd quarter valued at about $29,000. Finally, Global X Japan Co. Ltd. acquired a new stake in ServiceNow in the 2nd quarter valued at about $30,000. 87.18% of the stock is currently owned by institutional investors.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.