ServiceNow, Inc. (NYSE:NOW) Receives $855.44 Consensus PT from Analysts

ServiceNow, Inc. (NYSE:NOW) has been assigned an average rating of “Moderate Buy” from the twenty-six research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $855.44.

NOW has been the topic of several recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research report on Tuesday, July 23rd. Wells Fargo & Company increased their price objective on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Truist Financial lifted their target price on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. Finally, Citigroup boosted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,914 shares of company stock worth $5,608,936. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors have recently modified their holdings of NOW. Emprise Bank purchased a new position in ServiceNow in the 3rd quarter valued at about $201,000. Mattson Financial Services LLC acquired a new position in shares of ServiceNow during the second quarter valued at approximately $2,122,000. Anchor Investment Management LLC lifted its position in shares of ServiceNow by 8.1% in the second quarter. Anchor Investment Management LLC now owns 1,286 shares of the information technology services provider’s stock valued at $1,012,000 after acquiring an additional 96 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of ServiceNow by 8,337.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 30,544 shares of the information technology services provider’s stock worth $24,028,000 after acquiring an additional 30,182 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. increased its position in shares of ServiceNow by 86.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 1,802 shares of the information technology services provider’s stock worth $1,418,000 after purchasing an additional 836 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 3.0 %

NYSE:NOW opened at $867.34 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $177.80 billion, a P/E ratio of 92.76, a P/E/G ratio of 5.55 and a beta of 0.98. The company’s 50-day simple moving average is $842.39 and its 200-day simple moving average is $777.97. ServiceNow has a fifty-two week low of $527.24 and a fifty-two week high of $945.46.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow will post 6.78 earnings per share for the current fiscal year.

About ServiceNow

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.