ServiceNow (NYSE:NOW) Shares Up 0.9%

ServiceNow, Inc. (NYSE:NOWGet Free Report) shot up 0.9% during trading on Wednesday . The stock traded as high as $764.70 and last traded at $764.05. 123,122 shares traded hands during trading, a decline of 90% from the average session volume of 1,202,393 shares. The stock had previously closed at $757.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOW shares. Piper Sandler increased their price target on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. KeyCorp started coverage on shares of ServiceNow in a report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price target on the stock. Royal Bank of Canada increased their price target on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. BMO Capital Markets increased their price target on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $762.96.

Read Our Latest Stock Report on NOW

ServiceNow Stock Performance

The stock has a market cap of $155.29 billion, a PE ratio of 90.85, a price-to-earnings-growth ratio of 4.89 and a beta of 0.97. 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 business has a 50 day moving average price of $770.59 and a two-hundred day moving average price of $685.61.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share 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 return on equity of 11.85% and a net margin of 19.30%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

Insider Activity

In related news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow during the fourth quarter valued at $29,000. AdvisorNet Financial Inc lifted 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 valued at $31,000 after buying an additional 32 shares during the period. Sachetta LLC purchased a new position in ServiceNow during the fourth quarter valued at $35,000. PFG Private Wealth Management LLC purchased a new position in ServiceNow during the third quarter valued at $28,000. Finally, Disciplined Equity Management Inc. purchased a new position in ServiceNow during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

About ServiceNow

(Get Free Report)

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.

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