ServiceNow (NYSE:NOW) Trading Up 0.1% Following Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW)’s stock price rose 0.1% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $875.00 to $900.00. Wells Fargo & Company currently has an overweight rating on the stock. ServiceNow traded as high as $743.03 and last traded at $736.74. Approximately 330,609 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,171,895 shares. The stock had previously closed at $735.81.

Several other research analysts have also recently weighed in on NOW. Barclays boosted their price objective on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 23rd. Guggenheim restated a “neutral” rating on shares of ServiceNow in a report on Monday. Oppenheimer boosted their target price on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Royal Bank of Canada upped their price objective on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Truist Financial boosted their target price on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $780.00.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly 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 SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently bought and sold shares of NOW. Norges Bank purchased a new stake in shares of ServiceNow during the 4th quarter worth about $1,648,259,000. Moneta Group Investment Advisors LLC lifted its stake in ServiceNow by 69,897.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock valued at $332,386,000 after buying an additional 854,846 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after buying an additional 820,465 shares during the last quarter. FMR LLC increased its stake in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of ServiceNow by 129.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock valued at $386,082,000 after acquiring an additional 560,908 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $151.85 billion, a price-to-earnings ratio of 87.60, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97. The stock has a 50 day moving average price of $769.28 and a 200-day moving average price of $698.87.

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. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

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.