ServiceNow (NYSE:NOW) Shares Up 2.6%

ServiceNow, Inc. (NYSE:NOW)’s share price shot up 2.6% on Friday . The stock traded as high as $724.65 and last traded at $713.63. 487,664 shares were traded during trading, a decline of 60% from the average session volume of 1,212,666 shares. The stock had previously closed at $695.72.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOW. The Goldman Sachs Group lifted their price objective on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. JMP Securities reiterated a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a research report on Tuesday, April 23rd. KeyCorp lowered their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group boosted their target price on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets cut their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $807.28.

ServiceNow Stock Up 3.0 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The firm has a 50-day simple moving average of $754.44 and a two-hundred day simple moving average of $711.86. The company has a market cap of $147.19 billion, a PE ratio of 76.65, a P/E/G ratio of 4.31 and a beta of 0.98.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly 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 11,369 shares of company stock valued at $8,538,300 in the last ninety days. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its stake in ServiceNow by 5.6% during the third quarter. Commonwealth Equity Services LLC now owns 36,699 shares of the information technology services provider’s stock worth $20,514,000 after acquiring an additional 1,946 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of ServiceNow by 225.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 221 shares of the information technology services provider’s stock worth $124,000 after purchasing an additional 153 shares during the period. Stratos Wealth Partners LTD. increased its position in ServiceNow by 7.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,644 shares of the information technology services provider’s stock worth $4,273,000 after purchasing an additional 557 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in ServiceNow by 41.8% in the third quarter. Stratos Wealth Advisors LLC now owns 577 shares of the information technology services provider’s stock valued at $323,000 after buying an additional 170 shares during the period. Finally, PFG Private Wealth Management LLC purchased a new stake in ServiceNow during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.