ServiceNow, Inc. (NYSE:NOW) Receives Average Rating of “Moderate Buy” from Analysts

ServiceNow, Inc. (NYSE:NOW) has earned a consensus rating of “Moderate Buy” from the forty-four research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, thirty-three have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $192.0649.

Several equities analysts have weighed in on the company. Wells Fargo & Company set a $225.00 price target on ServiceNow and gave the company an “overweight” rating in a report on Thursday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $155.00 price target on shares of ServiceNow in a research note on Thursday, February 5th. Zacks Research cut shares of ServiceNow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Argus raised shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, February 4th. Finally, Stifel Nicolaus set a $180.00 price objective on ServiceNow and gave the stock a “buy” rating in a research note on Thursday, January 29th.

Insider Activity

In related news, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the transaction, the insider directly owned 26,314 shares of the company’s stock, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 2,085 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $161.60, for a total transaction of $336,936.00. Following the completion of the sale, the chief financial officer directly owned 63,215 shares in the company, valued at $10,215,544. This trade represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 14,895 shares of company stock worth $2,272,371. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of the business. Klingman & Associates LLC boosted its stake in ServiceNow by 22.2% during the second quarter. Klingman & Associates LLC now owns 533 shares of the information technology services provider’s stock worth $548,000 after buying an additional 97 shares in the last quarter. Ethic Inc. lifted its stake in ServiceNow by 1.6% during the second quarter. Ethic Inc. now owns 25,496 shares of the information technology services provider’s stock worth $26,067,000 after purchasing an additional 397 shares during the period. Howard Capital Management Inc. boosted its holdings in ServiceNow by 32.0% during the second quarter. Howard Capital Management Inc. now owns 1,465 shares of the information technology services provider’s stock valued at $1,506,000 after purchasing an additional 355 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of ServiceNow by 1.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 416,444 shares of the information technology services provider’s stock worth $428,783,000 after buying an additional 6,431 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in shares of ServiceNow by 8.4% during the 2nd quarter. Whittier Trust Co. now owns 99,643 shares of the information technology services provider’s stock worth $102,440,000 after buying an additional 7,701 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $107.06 on Monday. The firm has a market cap of $111.99 billion, a price-to-earnings ratio of 64.19, a P/E/G ratio of 1.81 and a beta of 0.98. The firm has a fifty day moving average price of $138.14 and a 200 day moving average price of $164.37. ServiceNow has a fifty-two week low of $98.00 and a fifty-two week high of $211.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00.

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 the consensus estimate of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the company earned $0.73 EPS. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts expect that ServiceNow will post 8.93 earnings per share for the current fiscal year.

ServiceNow Company Profile

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.