ServiceNow (NYSE:NOW) Trading 1.2% Higher – Here’s What Happened

by · The Markets Daily

Shares of ServiceNow, Inc. (NYSE:NOW – Get Free Report) traded up 1.2% on Monday . The stock traded as high as $826.07 and last traded at $822.13. 1,382,132 shares were traded during mid-day trading, a decline of 16% from the average session volume of 1,637,771 shares. The stock had previously closed at $812.41.

Analyst Ratings Changes

Several brokerages have issued reports on NOW. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a report on Monday, August 4th. UBS Group upped their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, October 30th. Stifel Nicolaus set a $1,150.00 price objective on shares of ServiceNow in a research note on Thursday, October 30th. Finally, TD Cowen upped their target price on ServiceNow from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,149.67.

Read Our Latest Stock Report on NOW

ServiceNow Price Performance

The stock has a 50-day moving average price of $889.57 and a two-hundred day moving average price of $936.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $171.00 billion, a price-to-earnings ratio of 99.41, a PEG ratio of 4.11 and a beta of 0.94.

Shares of ServiceNow are scheduled to split before the market opens on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW – Get Free Report) last released its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. ServiceNow’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the business earned $3.72 EPS. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Paul Fipps sold 305 shares of ServiceNow stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $817.55, for a total transaction of $249,352.75. Following the completion of the sale, the insider owned 541 shares of the company’s stock, valued at approximately $442,294.55. The trade was a 36.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 145 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $846.92, for a total value of $122,803.40. Following the completion of the transaction, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,563,626.84. The trade was a 4.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,665 shares of company stock worth $1,386,791 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of NOW. Kilter Group LLC purchased a new stake in ServiceNow in the second quarter valued at $25,000. IAG Wealth Partners LLC lifted its holdings in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the period. Global X Japan Co. Ltd. purchased a new stake in shares of ServiceNow in the second quarter worth about $30,000. Total Investment Management Inc. acquired a new stake in ServiceNow during the second quarter worth about $31,000. Finally, LGT Financial Advisors LLC acquired a new stake in ServiceNow during the second quarter worth about $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Company Profile

(Get Free Report)

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.

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