ServiceNow, Inc. (NYSE:NOW) Receives $192.06 Average Target Price from Analysts

Shares of ServiceNow, Inc. (NYSE:NOW) have been assigned an average recommendation of “Moderate Buy” from the forty-two research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $192.0649.

Several analysts recently weighed in on NOW shares. BNP Paribas Exane lowered their price objective on ServiceNow from $186.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Robert W. Baird set a $175.00 target price on ServiceNow in a research report on Thursday, January 29th. Capital One Financial lowered their price target on ServiceNow from $188.00 to $161.00 and set an “overweight” rating for the company in a report on Friday, January 16th. Evercore reissued an “outperform” rating and set a $175.00 price target (down from $225.00) on shares of ServiceNow in a research report on Thursday, January 29th. Finally, Argus upgraded ServiceNow to a “strong-buy” rating in a research note on Wednesday, February 4th.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the transaction, the director directly owned 46,430 shares of the company’s stock, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the sale, the insider directly owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. This represents a 31.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,237 shares of company stock valued at $1,697,162. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of large investors have recently bought and sold shares of NOW. Brighton Jones LLC boosted its position in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the period. Sivia Capital Partners LLC increased its position in ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after buying an additional 34 shares during the period. United Bank lifted its stake in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after buying an additional 204 shares during the last quarter. Fourth Dimension Wealth LLC boosted its holdings in shares of ServiceNow by 1,150.0% during the second quarter. Fourth Dimension Wealth LLC now owns 50 shares of the information technology services provider’s stock valued at $51,000 after acquiring an additional 46 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of ServiceNow by 58.8% during the second quarter. First Horizon Advisors Inc. now owns 870 shares of the information technology services provider’s stock valued at $895,000 after acquiring an additional 322 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 1.7%

NOW stock traded up $1.92 during mid-day trading on Friday, hitting $114.89. 2,161,516 shares of the company were exchanged, compared to its average volume of 19,656,563. The firm has a fifty day simple moving average of $119.93 and a 200 day simple moving average of $155.79. The company has a market capitalization of $120.17 billion, a PE ratio of 68.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. ServiceNow has a twelve month low of $98.00 and a twelve month high of $211.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the prior year, the business posted $0.73 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts forecast that ServiceNow will post 8.93 earnings per share for the current fiscal year.

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.