ServiceNow (NYSE:NOW) Trading 1.3% Higher

ServiceNow, Inc. (NYSE:NOW) shares shot up 1.3% during trading on Tuesday . The stock traded as high as $785.50 and last traded at $784.50. 239,042 shares traded hands during trading, a decline of 80% from the average session volume of 1,223,085 shares. The stock had previously closed at $774.64.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group raised their price target on ServiceNow from $865.00 to $885.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company lifted their price objective on ServiceNow from $675.00 to $725.00 and gave the company an “overweight” rating in a report on Thursday, November 30th. KeyCorp began coverage on ServiceNow in a research note on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target on the stock. JMP Securities boosted their price target on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research note on Monday, January 22nd. Finally, Mizuho lifted their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $762.96.

ServiceNow Stock Performance

The stock has a market capitalization of $155.51 billion, a price-to-earnings ratio of 90.20, a price-to-earnings-growth ratio of 4.96 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $768.99 and its 200 day simple moving average is $679.61.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 19.30% and a return on equity of 11.85%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. Analysts expect that ServiceNow, Inc. will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,030 shares of the business’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 completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock valued at $9,940,303 over the last ninety days. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. PFG Private Wealth Management LLC acquired a new position in ServiceNow during the third quarter worth $28,000. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the fourth quarter worth $29,000. First Capital Advisors Group LLC. bought a new stake in ServiceNow during the second quarter worth $29,000. High Net Worth Advisory Group LLC bought a new stake in ServiceNow during the first quarter worth $29,000. Finally, AdvisorNet Financial Inc raised its position in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

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.