ServiceNow (NYSE:NOW) Upgraded to “Hold” at Arete Research

Arete Research upgraded shares of ServiceNow (NYSE:NOW) to a hold rating in a report published on Thursday,Zacks.com reports.

NOW has been the topic of several other research reports. The Goldman Sachs Group restated a “buy” rating and issued a $1,250.00 target price on shares of ServiceNow in a research note on Thursday, October 30th. Barclays boosted their price target on shares of ServiceNow from $1,210.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. UBS Group raised their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Morgan Stanley set a $1,315.00 target price on ServiceNow and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on ServiceNow from $1,020.00 to $1,075.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,149.67.

ServiceNow Trading Down 0.3%

NOW opened at $865.17 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm’s fifty day moving average is $873.65 and its two-hundred day moving average is $925.99. The firm has a market cap of $179.96 billion, a PE ratio of 104.62, a price-to-earnings-growth ratio of 3.62 and a beta of 0.97.

ServiceNow shares are going to split on the morning of Thursday, December 18th. The 5-1 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, December 17th.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. ServiceNow had a return on equity of 18.74% and a net margin of 13.66%.ServiceNow’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.72 earnings per share. Equities research analysts anticipate that ServiceNow will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 417 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $808.00, for a total transaction of $336,936.00. Following the completion of the sale, the chief financial officer directly owned 12,643 shares in the company, valued at approximately $10,215,544. This represents a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 305 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $817.55, for a total value of $249,352.75. Following the completion of the transaction, the insider owned 541 shares in the company, valued at $442,294.55. The trade was a 36.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,062 shares of company stock worth $2,533,585. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently added to or reduced their stakes in NOW. Kilter Group LLC bought a new position in ServiceNow in the second quarter valued at about $25,000. IAG Wealth Partners LLC lifted its stake in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Bogart Wealth LLC boosted its position in shares of ServiceNow by 93.8% during the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 15 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in ServiceNow during the third quarter worth approximately $29,000. Finally, Global X Japan Co. Ltd. bought a new stake in ServiceNow in the second quarter worth approximately $30,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.