ServiceNow, Inc. (NYSE:NOW) Stock Has Average Price Target of $151.73 According to Brokerages

ServiceNow, Inc. (NYSE:NOW) has been given an average rating of “Moderate Buy” by the forty-three brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $152.29.

Several research firms have recently weighed in on NOW. Deutsche Bank Aktiengesellschaft upped their target price on shares of ServiceNow from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, September 21st. JPMorgan Chase & Co. upped their price target on ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Piper Sandler boosted their price objective on ServiceNow from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus set a $160.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research report on Tuesday, October 6th. Finally, Cantor Fitzgerald raised their target price on shares of ServiceNow from $141.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, September 21st.

ServiceNow Trading Up 2.3%

Shares of NOW stock opened at $145.30 on Friday. The firm has a fifty day moving average of $135.56 and a 200-day moving average of $114.01. The stock has a market cap of $150.24 billion, a price-to-earnings ratio of 74.41, a P/E/G ratio of 2.61 and a beta of 0.99. ServiceNow has a 52-week low of $81.24 and a 52-week high of $192.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue was up 24.0% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jacqueline Canney sold 7,847 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the transaction, the insider directly owned 30,042 shares in the company, valued at $4,145,796. This represents a 20.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the transaction, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,081 shares of company stock valued at $1,937,904 over the last ninety days. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC lifted its stake in ServiceNow by 6.4% during the third quarter. CWA Asset Management Group LLC now owns 18,209 shares of the information technology services provider’s stock worth $2,440,000 after purchasing an additional 1,103 shares during the last quarter. Worth Financial Advisory Group LLC boosted its stake in shares of ServiceNow by 4.1% during the third quarter. Worth Financial Advisory Group LLC now owns 5,584 shares of the information technology services provider’s stock valued at $748,000 after purchasing an additional 218 shares in the last quarter. Sterling Investment Counsel LLC boosted its position in ServiceNow by 5.5% during the 3rd quarter. Sterling Investment Counsel LLC now owns 21,361 shares of the information technology services provider’s stock worth $2,863,000 after buying an additional 1,114 shares during the period. Abel Hall LLC bought a new stake in shares of ServiceNow in the third quarter worth $300,000. Finally, Crown Wealth Group LLC acquired a new stake in ServiceNow in the third quarter valued at $263,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.