ServiceNow, Inc. (NYSE:NOW) Given Consensus Rating of “Moderate Buy” by Analysts

ServiceNow, Inc. (NYSE:NOW) has received a consensus recommendation of “Moderate Buy” from the forty-three ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation, thirty-three have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $188.5895.

A number of analysts recently commented on the company. Robert W. Baird set a $175.00 price target on ServiceNow in a research note on Thursday, January 29th. Macquarie Infrastructure dropped their price target on ServiceNow from $172.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft set a $180.00 price target on ServiceNow in a research note on Thursday, January 29th. Evercore reaffirmed an “outperform” rating and issued a $175.00 price target (down from $225.00) on shares of ServiceNow in a research note on Thursday, January 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Thursday, January 29th.

ServiceNow Stock Performance

Shares of NOW stock opened at $102.46 on Tuesday. The stock has a fifty day moving average of $109.76 and a 200 day moving average of $146.19. ServiceNow has a 52 week low of $98.00 and a 52 week high of $211.48. The firm has a market capitalization of $107.17 billion, a price-to-earnings ratio of 61.43, a PEG ratio of 1.71 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the firm posted $0.73 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. As a group, research analysts expect that ServiceNow will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the transaction, the director owned 46,430 shares of the company’s stock, valued at approximately $4,697,323.10. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 3,696 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the transaction, the insider directly owned 8,061 shares of the company’s stock, valued at $820,367.97. This represents a 31.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,237 shares of company stock valued at $1,697,162 over the last quarter. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kilter Group LLC purchased a new position in ServiceNow during the second quarter valued at $25,000. IAG Wealth Partners LLC lifted its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the period. Total Investment Management Inc. purchased a new position in ServiceNow during the second quarter valued at $31,000. Bogart Wealth LLC lifted its position in ServiceNow by 93.8% during the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 15 shares during the period. Finally, Wealth Watch Advisors INC purchased a new position in ServiceNow during the third quarter valued at $29,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.