Brokerages Set ServiceNow, Inc. (NYSE:NOW) Target Price at $141.89

ServiceNow, Inc. (NYSE:NOW) has been assigned a consensus recommendation of “Moderate Buy” from the forty-three brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, thirty-five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $141.8450.

A number of equities research analysts recently issued reports on NOW shares. Needham & Company LLC restated a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. HSBC lowered their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Mizuho lowered their target price on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Robert W. Baird lowered their target price on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Citigroup boosted their target price on shares of ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, April 30th.

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 in the last ninety days. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Avidian Wealth Enterprises LLC lifted its position in ServiceNow by 2.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock valued at $417,000 after buying an additional 11 shares in the last quarter. Meridian Wealth Advisors LLC lifted its position in ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after buying an additional 12 shares in the last quarter. Valley Brook Capital Group Inc. lifted its position in ServiceNow by 2.1% during the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock valued at $583,000 after buying an additional 13 shares in the last quarter. Catalyst Financial Partners LLC lifted its position in ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after buying an additional 13 shares in the last quarter. Finally, JT Stratford LLC lifted its position in ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after buying an additional 13 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $99.99 on Wednesday. The company has a market cap of $103.09 billion, a PE ratio of 59.59, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. ServiceNow has a 12 month low of $81.24 and a 12 month high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a 50-day simple moving average of $98.26 and a 200-day simple moving average of $124.67.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow will post 2.35 earnings per share for the current 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.