ServiceNow, Inc. (NYSE:NOW) Receives Average Rating of “Moderate Buy” from Analysts

ServiceNow, Inc. (NYSE:NOWGet Free Report) has earned a consensus rating of “Moderate Buy” from the forty-two research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $215.9706.

A number of brokerages recently issued reports on NOW. BMO Capital Markets lowered their price target on ServiceNow from $232.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Oppenheimer reduced their price objective on shares of ServiceNow from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday. DZ Bank upgraded shares of ServiceNow to a “strong-buy” rating in a report on Thursday, December 18th. Stifel Nicolaus dropped their target price on shares of ServiceNow from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Finally, Wells Fargo & Company set a $225.00 price target on shares of ServiceNow and gave the stock an “overweight” rating in a research note on Thursday, January 8th.

Check Out Our Latest Analysis on ServiceNow

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

ServiceNow Trading Down 2.7%

NOW opened at $134.52 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow has a one year low of $132.61 and a one year high of $239.62. The company has a market cap of $139.68 billion, a P/E ratio of 81.33, a PEG ratio of 2.38 and a beta of 0.98. The business’s 50-day simple moving average is $159.56 and its 200-day simple moving average is $176.88.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,525 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $163.51, for a total value of $249,352.75. Following the completion of the sale, the insider directly owned 2,705 shares of the company’s stock, valued at approximately $442,294.55. The trade was a 36.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Jackson sold 1,325 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $162.04, for a total value of $214,708.30. Following the completion of the sale, the director directly owned 1,615 shares of the company’s stock, valued at approximately $261,701.06. This trade represents a 45.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,310 shares of company stock valued at $2,533,585. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of the business. Magnus Financial Group LLC grew its holdings in ServiceNow by 1.9% in the third quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock valued at $542,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC raised its stake in shares of ServiceNow by 1.8% during the 2nd quarter. Highline Wealth Partners LLC now owns 623 shares of the information technology services provider’s stock worth $640,000 after buying an additional 11 shares during the last quarter. Richardson Financial Services Inc. boosted its position in shares of ServiceNow by 50.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock worth $33,000 after buying an additional 11 shares in the last quarter. Brady Martz Wealth Solutions LLC boosted its position in shares of ServiceNow by 1.3% in the 3rd quarter. Brady Martz Wealth Solutions LLC now owns 842 shares of the information technology services provider’s stock worth $775,000 after buying an additional 11 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its stake in ServiceNow by 2.5% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock valued at $417,000 after acquiring an additional 11 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

About ServiceNow

(Get Free Report)

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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