ServiceNow (NYSE:NOW) Stock Price Up 0.9% Following Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW) shares were up 0.9% during trading on Wednesday after Robert W. Baird raised their price target on the stock from $870.00 to $885.00. Robert W. Baird currently has an outperform rating on the stock. ServiceNow traded as high as $721.21 and last traded at $719.90. Approximately 278,474 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,216,238 shares. The stock had previously closed at $713.33.

Other equities research analysts have also issued reports about the company. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. JMP Securities restated a “market outperform” rating and issued a $825.00 price target on shares of ServiceNow in a report on Tuesday, April 23rd. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Jefferies Financial Group raised their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $807.88.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,559 shares of company stock worth $8,674,868. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

Large investors have recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $29,000. AdvisorNet Financial Inc raised its stake in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in ServiceNow during the 3rd quarter worth $35,000. Disciplined Equity Management Inc. acquired a new position in shares of ServiceNow during the fourth quarter valued at $35,000. Finally, Sachetta LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 0.3 %

The firm’s fifty day moving average is $750.45 and its two-hundred day moving average is $717.57. The firm has a market cap of $148.52 billion, a price-to-earnings ratio of 77.34, a P/E/G ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06.

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.