ServiceNow (NYSE:NOW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ServiceNow (NYSE:NOW) from a hold rating to a buy rating in a report published on Tuesday.

A number of other brokerages have also recently issued reports on NOW. Morgan Stanley set a $1,315.00 target price on ServiceNow and gave the stock an “overweight” rating in a report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $1,120.00 price objective on shares of ServiceNow in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Citigroup increased their price target on ServiceNow from $1,234.00 to $1,253.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Mizuho set a $1,150.00 price objective on ServiceNow in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,149.67.

ServiceNow Trading Down 2.7%

NOW stock opened at $802.93 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $167.01 billion, a price-to-earnings ratio of 97.09, a PEG ratio of 4.11 and a beta of 0.94. The business has a fifty day simple moving average of $892.60 and a 200-day simple moving average of $939.68. ServiceNow has a 52 week low of $678.66 and a 52 week high of $1,198.09.

Shares of ServiceNow are going to split on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly created shares will be issued to shareholders after the market closes on Thursday, December 4th.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.61. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. ServiceNow had a return on equity of 19.23% and a net margin of 13.66%.The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.72 earnings per share. On average, equities research analysts expect that ServiceNow will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 522 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $827.08, for a total value of $431,735.76. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,481,240. The trade was a 14.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 110 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $846.92, for a total value of $93,161.20. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,668,857.44. This represents a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,665 shares of company stock worth $1,386,791 over the last three months. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in NOW. Haverford Trust Co raised its holdings in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after acquiring an additional 10 shares in the last quarter. Ascent Group LLC grew its holdings in ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after acquiring an additional 10 shares in the last quarter. Advisory Alpha LLC increased its position in shares of ServiceNow by 4.4% in the 1st quarter. Advisory Alpha LLC now owns 261 shares of the information technology services provider’s stock worth $208,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC increased its position in shares of ServiceNow by 1.8% in the 2nd quarter. Highline Wealth Partners LLC now owns 623 shares of the information technology services provider’s stock worth $640,000 after purchasing an additional 11 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its stake in shares of ServiceNow by 50.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 11 shares in the last quarter. 87.18% of the stock is 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.