ServiceNow (NYSE:NOW) Stock Price Up 0.5%

ServiceNow, Inc. (NYSE:NOW) shares rose 0.5% on Wednesday . The company traded as high as $757.25 and last traded at $744.80. Approximately 307,355 shares changed hands during trading, a decline of 74% from the average daily volume of 1,168,042 shares. The stock had previously closed at $740.95.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent analyst reports. Mizuho lifted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Piper Sandler lifted their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Oppenheimer lifted their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Finally, Jefferies Financial Group lifted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Stock Up 0.7 %

The firm has a market cap of $153.27 billion, a P/E ratio of 88.74, a P/E/G ratio of 4.56 and a beta of 0.97. The business’s fifty day moving average price is $762.24 and its two-hundred day moving average price is $706.46. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 in the last ninety days. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of NOW. Summit Global Investments bought a new stake in ServiceNow in the third quarter valued at approximately $209,000. Capital Investment Advisors LLC bought a new stake in ServiceNow in the third quarter valued at approximately $459,000. Impact Partnership Wealth LLC increased its stake in ServiceNow by 672.7% in the third quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 74 shares in the last quarter. Park Place Capital Corp increased its stake in ServiceNow by 9.2% in the third quarter. Park Place Capital Corp now owns 1,149 shares of the information technology services provider’s stock valued at $642,000 after purchasing an additional 97 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC increased its stake in ServiceNow by 3.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 2,795 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 92 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

About ServiceNow

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.