ServiceNow (NYSE:NOW) Shares Up 1.1%

Shares of ServiceNow, Inc. (NYSE:NOW) were up 1.1% during trading on Monday . The stock traded as high as $725.14 and last traded at $724.62. Approximately 300,040 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,213,011 shares. The stock had previously closed at $716.65.

Analyst Ratings Changes

Several analysts have recently commented on NOW shares. Morgan Stanley raised their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group increased their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Oppenheimer increased their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. UBS Group cut their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Citigroup increased their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $807.28.

ServiceNow Price Performance

The company’s 50-day moving average is $753.36 and its 200-day moving average is $715.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The firm has a market capitalization of $149.22 billion, a price-to-earnings ratio of 77.50, a PEG ratio of 4.50 and a beta of 0.98.

Insider Buying and Selling

In related news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,369 shares of company stock valued at $8,538,300. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after purchasing an additional 122,577 shares during the period. FMR LLC increased its stake in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Jennison Associates LLC increased its stake in shares of ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow in the fourth quarter worth $1,648,259,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after buying an additional 81,028 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.