ServiceNow (NYSE:NOW) Shares Up 1.1%

Shares of ServiceNow, Inc. (NYSE:NOW) shot up 1.1% during mid-day trading on Monday . The company traded as high as $725.14 and last traded at $724.62. 300,040 shares were traded during trading, a decline of 75% from the average session volume of 1,213,011 shares. The stock had previously closed at $716.65.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOW. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. William Blair restated an “outperform” rating on shares of ServiceNow in a research note on Thursday, April 25th. KeyCorp lowered their target price on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Mizuho lifted their target price on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned 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 $807.28.

ServiceNow Price Performance

The company has a market capitalization of $149.22 billion, a P/E ratio of 77.50, a P/E/G ratio of 4.50 and a beta of 0.98. The firm’s fifty day moving average is $753.36 and its 200 day moving average is $715.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,369 shares of company stock worth $8,538,300. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently modified their holdings of the business. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $29,000. AdvisorNet Financial Inc lifted its position in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. Sachetta LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $35,000. Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $35,000. Finally, PFG Private Wealth Management LLC purchased a new stake in ServiceNow during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

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.