ServiceNow (NYSE:NOW) Trading 1.6% Higher – Time to Buy?

Shares of ServiceNow, Inc. (NYSE:NOW) traded up 1.6% during mid-day trading on Monday . The company traded as high as $103.21 and last traded at $99.8950. Approximately 24,790,248 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 24,170,748 shares. The stock had previously closed at $98.34.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NOW shares. Barclays reissued an “overweight” rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. JPMorgan Chase & Co. reduced their target price on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. The Goldman Sachs Group decreased their price target on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Wells Fargo & Company reduced their price objective on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Finally, Bank of America started coverage on shares of ServiceNow in a research report on Monday, May 18th. They set a “buy” rating and a $130.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.17.

ServiceNow Stock Up 1.6%

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $102.99 billion, a price-to-earnings ratio of 59.53, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94. The firm’s 50-day moving average is $100.10 and its 200 day moving average is $114.88.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

Institutional Trading of ServiceNow

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Basecamp Wealth Advisors LLC lifted its stake in shares of ServiceNow by 4.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,909 shares of the information technology services provider’s stock worth $304,000 after acquiring an additional 121 shares in the last quarter. Western Wealth Management LLC increased its holdings in ServiceNow by 35.7% during the 1st quarter. Western Wealth Management LLC now owns 19,660 shares of the information technology services provider’s stock worth $2,055,000 after purchasing an additional 5,167 shares during the last quarter. Wealth High Governance Capital Ltda acquired a new position in shares of ServiceNow in the 1st quarter valued at approximately $732,000. Wealth High Governance Asset Management Ltda. purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $627,000. Finally, Lombard Odier Asset Management Europe Ltd boosted its stake in shares of ServiceNow by 104.9% during the 1st quarter. Lombard Odier Asset Management Europe Ltd now owns 99,813 shares of the information technology services provider’s stock valued at $10,435,000 after buying an additional 51,108 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.