ServiceNow (NYSE:NOW) Stock Price Up 2.5%

ServiceNow, Inc. (NYSE:NOW) rose 2.5% during trading on Tuesday . The stock traded as high as $743.62 and last traded at $740.11. Approximately 335,616 shares were traded during trading, a decline of 71% from the average daily volume of 1,168,237 shares. The stock had previously closed at $721.95.

Analysts Set New Price Targets

Several research analysts recently issued reports on NOW shares. Truist Financial upped their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. UBS Group increased their target price on ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a report on Monday, April 15th. Oppenheimer raised their price target on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Finally, Wells Fargo & Company raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Stock Performance

The firm has a market cap of $152.30 billion, a P/E ratio of 88.00, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $762.90 and a 200-day simple moving average of $705.19.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results 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 company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the firm’s 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 transaction, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

Several institutional investors have recently added to or reduced their stakes in NOW. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow in the 4th quarter worth about $29,000. AdvisorNet Financial Inc raised its holdings in shares of 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 purchasing an additional 32 shares during the last quarter. Sachetta LLC bought a new position in ServiceNow during the fourth quarter valued at approximately $35,000. PFG Private Wealth Management LLC purchased a new stake in ServiceNow in the third quarter worth approximately $28,000. Finally, Disciplined Equity Management Inc. bought a new stake in ServiceNow in the 4th quarter worth approximately $35,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.