ServiceNow (NYSE:NOW) Trading 0.3% Higher Following Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW)’s share price traded up 0.3% during trading on Thursday after Citigroup raised their price target on the stock from $896.00 to $906.00. Citigroup currently has a buy rating on the stock. ServiceNow traded as high as $738.42 and last traded at $738.34. 197,665 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,163,068 shares. The stock had previously closed at $736.45.

Several other analysts have also recently commented on the company. UBS Group boosted their price target on ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group boosted their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Oppenheimer boosted their price objective on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

Insider Activity

In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, 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 value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

A number of large investors have recently made changes to their positions in NOW. PFG Private Wealth Management LLC acquired a new stake in ServiceNow during the 3rd quarter worth approximately $28,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $29,000. First Capital Advisors Group LLC. acquired a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $29,000. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at approximately $29,000. Finally, AdvisorNet Financial Inc lifted its holdings 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 valued at $31,000 after buying an additional 32 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.5 %

The stock has a market capitalization of $151.95 billion, a PE ratio of 87.79, a P/E/G ratio of 4.71 and a beta of 0.97. The firm has a 50 day moving average of $767.53 and a two-hundred day moving average of $700.42. 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, topping the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. ServiceNow’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

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.