ServiceNow (NYSE:NOW) Shares Up 0.5%

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Robert W. Baird increased their price objective on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a report on Wednesday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Thursday. Finally, Morgan Stanley boosted their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $782.85.

ServiceNow Price Performance

The firm has a 50-day moving average of $760.05 and a 200-day moving average of $706.80. The stock has a market cap of $148.08 billion, a PE ratio of 76.60, a PEG ratio of 4.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the firm posted $0.88 EPS. The company’s revenue was up 25.6% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred 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 transaction, 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. Over the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently bought and sold shares of NOW. Vanguard Group Inc. grew its stake in shares of ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares in the last quarter. FMR LLC grew its position in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after acquiring an additional 595,697 shares in the last quarter. Jennison Associates LLC grew its position in ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after acquiring an additional 53,719 shares in the last quarter. Norges Bank bought a new stake in ServiceNow during the fourth quarter worth approximately $1,648,259,000. Finally, Massachusetts Financial Services Co. MA raised its position in ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the period. Institutional investors 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.