ServiceNow (NYSE:NOW) Trading 0.5% Higher

ServiceNow, Inc. (NYSE:NOW)’s share price was up 0.5% on Thursday . The company traded as high as $768.76 and last traded at $762.57. Approximately 204,316 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,220,438 shares. The stock had previously closed at $759.00.

Analysts Set New Price Targets

Several brokerages have commented on NOW. Piper Sandler upped their price target on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. KeyCorp began coverage on shares of ServiceNow in a research note on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price objective on the stock. Needham & Company LLC upped their price objective on ServiceNow from $660.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Mizuho upped their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, BMO Capital Markets lifted their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $762.96.

ServiceNow Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $156.13 billion, a PE ratio of 91.16, a PEG ratio of 4.96 and a beta of 0.97. The firm’s 50 day moving average price is $769.61 and its two-hundred day moving average price is $680.16.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion for 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 firm’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 6.11 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction 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 approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock valued at $9,940,303 in the last quarter. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in ServiceNow by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 18,118,773 shares of the information technology services provider’s stock valued at $12,800,732,000 after buying an additional 364,992 shares in the last quarter. State Street Corp raised its stake in shares of ServiceNow by 2.0% during the 2nd quarter. State Street Corp now owns 8,240,319 shares of the information technology services provider’s stock worth $4,630,812,000 after purchasing an additional 158,165 shares in the last quarter. Morgan Stanley grew its position in ServiceNow by 4.3% during the fourth quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock worth $2,745,763,000 after buying an additional 288,522 shares in the last quarter. FMR LLC raised its position in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of ServiceNow by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock valued at $1,663,879,000 after acquiring an additional 79,037 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.