ServiceNow, Inc. (NYSE:NOW) Receives $1,129.72 Consensus Price Target from Analysts

Shares of ServiceNow, Inc. (NYSE:NOW) have been given a consensus rating of “Moderate Buy” by the thirty-one ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twenty-five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $1,129.72.

Several equities research analysts have commented on NOW shares. Mizuho upped their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Citigroup dropped their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Canaccord Genuity Group upped their price target on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Robert W. Baird dropped their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a report on Thursday, January 30th.

ServiceNow Stock Up 0.9 %

NOW opened at $929.56 on Monday. The business’s fifty day moving average is $1,038.07 and its two-hundred day moving average is $981.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $191.49 billion, a price-to-earnings ratio of 136.10, a PEG ratio of 4.51 and a beta of 0.99. ServiceNow has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Analysts anticipate that ServiceNow will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently bought and sold shares of the stock. Park Square Financial Group LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $153,000. Menard Financial Group LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at approximately $198,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of ServiceNow during the fourth quarter worth $240,389,000. Brucke Financial Inc. bought a new stake in ServiceNow during the 4th quarter worth $320,000. Finally, Omnia Family Wealth LLC bought a new stake in ServiceNow during the 4th quarter worth $233,000. 87.18% of the stock is currently 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.