ServiceNow, Inc. (NYSE:NOW) Given Brokerages Average Rating of “Moderate Buy”.

The Shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) has earned an average recommendation of “Moderate Buy” from the thirty-six brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and twenty have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $564.82.

A number of equities research analysts recently commented on the stock. Truist Financial dropped their price target on shares of ServiceNow from $550.00 to $525.00 in a report on Thursday. Cowen lifted their price target on shares of ServiceNow from $510.00 to $520.00 in a report on Thursday. BMO Capital Markets decreased their price objective on shares of ServiceNow from $497.00 to $430.00 and set an “outperform” rating for the company in a report on Monday. Morgan Stanley decreased their price objective on shares of ServiceNow from $540.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Royal Bank of Canada decreased their price objective on shares of ServiceNow from $550.00 to $500.00 and set an “outperform” rating for the company in a report on Monday, October 17th.

Internal Activity

In other news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $465.86, for a total transaction of $3,074,676.00. Following the sale, the director now owns 33,000 shares of the company’s stock, valued at approximately $15,373,380. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. In other news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $465.86, for a total value of $3,074,676.00. Following the transaction, the director now owns 33,000 shares in the company, valued at approximately $15,373,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 4,812 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the transaction, the general counsel now owns 9,293 shares in the company, valued at approximately $4,079,534.07. The disclosure for this sale can be found here. Insiders have sold a total of 29,393 shares of company stock valued at $12,856,570 over the last 90 days. 0.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Service Now

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RB Capital Management LLC boosted its holdings in ServiceNow by 25.2% during the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 192 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of ServiceNow by 419.2% in the first quarter. AdvisorNet Financial Inc now owns 379 shares of the information technology services provider’s stock valued at $211,000 after buying an additional 306 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of ServiceNow by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 31,670 shares of the information technology services provider’s stock valued at $17,637,000 after purchasing an additional 5,288 shares during the last quarter. PFG Advisors boosted its holdings in shares of ServiceNow by 8.8% in the first quarter. PFG Advisors now owns 397 shares of the information technology services provider’s stock valued at $221,000 after buying an additional 32 shares in the last quarter. Finally, Graypoint LLC boosted its holdings in shares of ServiceNow by 24.8% in the first quarter. Graypoint LLC now owns 1,138 shares of the information technology services provider’s stock valued at $634,000 after buying an additional 226 shares during the last quarter. Institutional investors own 87.49% of the company’s stock.

ServiceNow Trading rose 13.4%

Shares of NOW opened at $415.67 on Friday. The company has a 50-day moving average price of $409.78 and a 200-day moving average price of $448.85. ServiceNow has a fifty-two week low of $337.00 and a fifty-two week high of $707.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $83.97 billion, a price-to-earnings ratio of 456.78, a PEG ratio of 7.52 and a beta of 0.98.

ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business posted $0.38 EPS. The company’s revenue increased by 24.3% compared to the same quarter last year. As a group, equities research analysts predict that ServiceNow will post 1.71 earnings per share for the current year.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

This instant news alert is generated through narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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