ServiceNow (NYSE:NOW) Trading 1.1% Higher

ServiceNow, Inc. (NYSE:NOW)’s share price rose 1.1% during trading on Monday . The company traded as high as $725.14 and last traded at $724.62. Approximately 300,040 shares traded hands during trading, a decline of 75% from the average daily volume of 1,213,011 shares. The stock had previously closed at $716.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Mizuho raised their price target 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. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. UBS Group cut their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Morgan Stanley upped their target price on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $807.88.

ServiceNow Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $148.14 billion, a P/E ratio of 77.14, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. The company’s 50 day moving average is $751.22 and its 200-day moving average is $717.54.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the business’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 sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated Tuesday, February 13th. The shares were 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 directly owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 11,369 shares of company stock valued at $8,538,300 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sandbox Financial Partners LLC grew its position in ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares in the last quarter. Federated Hermes Inc. grew its position in shares of ServiceNow by 19.8% in the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after purchasing an additional 49,631 shares in the last quarter. Raymond James & Associates grew its holdings in ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after buying an additional 18,442 shares in the last quarter. Dohj LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth about $913,000. Finally, Sequoia Financial Advisors LLC grew its stake in ServiceNow by 15.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after acquiring an additional 3,438 shares in the last quarter. 87.18% of the stock is 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.