ServiceNow (NOW) “Outperform” Rating Reaffirmed at Macquarie

ServiceNow (NYSE:NOW – Get Rating)‘s stock had an “outperform” rating reiterated by research analysts at Macquarie in a report issued on Wednesday, Stock Target Advisor reports. They currently have a $500.00 price objective on the information technology services provider’s stock. Macquarie’s price target indicates a potential upside of 19.46% from the company’s current price.

Other equities analysts have recently issued research reports about the company. Truist Financial dropped their price target on ServiceNow from $550.00 to $525.00 in a research report on Thursday, October 27th. Wells Fargo & Company reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Guggenheim reduced their price target on ServiceNow to $500.00 in a report on Thursday, October 27th. Cowen raised their price target on ServiceNow from $510.00 to $520.00 in a report on Thursday, October 27th. Finally, StockNews.com began coverage on ServiceNow in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $545.63.

ServiceNow Stock Drops 0.5%

Shares of NOW opened at $418.56 on Wednesday. ServiceNow has a 52 week low of $337.00 and a 52 week high of $707.60. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $84.55 billion, a price-to-earnings ratio of 422.79, a PEG ratio of 8.71 and a beta of 0.98. The stock’s 50-day moving average price is $407.06 and its 200-day moving average price is $446.00.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 178 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $502.00, for a total value of $89,356.00. Following the sale, the general counsel now directly owns 9,293 shares in the company, valued at $4,665,086. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ServiceNow news, insider Paul John Smith sold 130 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $502.81, for a total value of $65,365.30. Following the sale, the insider now directly owns 2,157 shares in the company, valued at $1,084,561.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 178 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $502.00, for a total value of $89,356.00. Following the completion of the sale, the general counsel now owns 9,293 shares in the company, valued at $4,665,086. The disclosure for this sale can be found here. Insiders sold a total of 16,582 shares of company stock valued at $7,016,200 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading Services Today

Hedge funds and other institutional investors have recently made changes to their positions in the company. OLD Second National Bank of Aurora acquired a new stake in shares of ServiceNow during the first quarter valued at approximately $28,000. Tortoise Investment Management LLC increased its position in shares of ServiceNow by 55.0% in the second quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 22 shares in the last quarter. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $29,000. Vigilant Capital Management LLC raised its position in ServiceNow by 300.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 72 shares during the period. Finally, GoalVest Advisory LLC acquired a new position in ServiceNow in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 87.49% of the company’s stock.

About ServiceNow

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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)

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