ServiceNow (NYSE:NOW) Reaches New 1-Year High at $891.02

Shares of ServiceNow, Inc. (NYSE:NOW) reached a new 52-week high during trading on Monday . The stock traded as high as $891.02 and last traded at $888.00, with a volume of 61890 shares trading hands. The stock had previously closed at $878.95.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NOW shares. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Guggenheim restated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price target on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $855.44.

ServiceNow Stock Up 1.4 %

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $807.22 and a two-hundred day simple moving average of $766.54. The company has a market cap of $182.70 billion, a PE ratio of 95.22, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share. As a group, equities research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of NOW. Sepio Capital LP lifted its holdings in shares of ServiceNow by 7.8% in the 4th quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock worth $827,000 after acquiring an additional 85 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of ServiceNow by 7.0% in the fourth quarter. Great Lakes Advisors LLC now owns 954 shares of the information technology services provider’s stock valued at $674,000 after purchasing an additional 62 shares during the period. Financial Advocates Investment Management grew its holdings in shares of ServiceNow by 3.8% in the fourth quarter. Financial Advocates Investment Management now owns 470 shares of the information technology services provider’s stock valued at $332,000 after purchasing an additional 17 shares in the last quarter. AMG National Trust Bank purchased a new stake in ServiceNow during the 4th quarter worth approximately $240,000. Finally, Sheaff Brock Investment Advisors LLC lifted its holdings in ServiceNow by 56.4% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 890 shares of the information technology services provider’s stock worth $629,000 after buying an additional 321 shares in the last quarter. 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.