ServiceNow (NYSE:NOW) Hits New 52-Week High – Time to Buy?

ServiceNow, Inc. (NYSE:NOW)’s stock price hit a new 52-week high on Friday . The company traded as high as $840.50 and last traded at $839.2390, with a volume of 2601 shares. The stock had previously closed at $167.77.

Analyst Ratings Changes

NOW has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $204.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Wells Fargo & Company set a $255.00 target price on shares of ServiceNow in a report on Thursday, October 30th. Cowen restated a “buy” rating on shares of ServiceNow in a research note on Friday, October 24th. UBS Group increased their price target on ServiceNow from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Citigroup raised their price target on ServiceNow from $246.80 to $250.60 and gave the stock a “buy” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.93.

ServiceNow Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a fifty day moving average price of $881.34 and a two-hundred day moving average price of $932.54. The company has a market cap of $177.86 billion, a P/E ratio of 103.39, a PEG ratio of 3.48 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 29th. The information technology services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The business had revenue of $3.41 billion during 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%.The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $161.60, for a total value of $242,400.00. Following the completion of the sale, the director owned 47,930 shares of the company’s stock, valued at $7,745,488. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gina Mastantuono sold 2,085 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $161.60, for a total transaction of $336,936.00. Following the transaction, the chief financial officer directly owned 63,215 shares in the company, valued at approximately $10,215,544. The trade was a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,235 shares of company stock valued at $2,180,835. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently added to or reduced their stakes in NOW. Brighton Jones LLC lifted its holdings in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after buying an additional 30 shares during the period. Mutual of America Capital Management LLC raised its position in ServiceNow by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 24,875 shares of the information technology services provider’s stock worth $19,804,000 after acquiring an additional 201 shares in the last quarter. Cary Street Partners Financial LLC raised its position in ServiceNow by 49.3% in the first quarter. Cary Street Partners Financial LLC now owns 881 shares of the information technology services provider’s stock worth $701,000 after acquiring an additional 291 shares in the last quarter. Intrust Bank NA lifted its holdings in ServiceNow by 11.5% in the 1st quarter. Intrust Bank NA now owns 1,539 shares of the information technology services provider’s stock valued at $1,225,000 after acquiring an additional 159 shares during the last quarter. Finally, Exencial Wealth Advisors LLC boosted its position in shares of ServiceNow by 2.5% during the 1st quarter. Exencial Wealth Advisors LLC now owns 572 shares of the information technology services provider’s stock valued at $455,000 after purchasing an additional 14 shares in the last quarter. 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.