Brokerages Set ServiceNow, Inc. (NYSE:NOW) Price Target at $143.39

Shares of ServiceNow, Inc. (NYSE:NOW) have received a consensus rating of “Moderate Buy” from the forty-two research firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $143.3902.

Several research firms have recently weighed in on NOW. Argus decreased their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 24th. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research report on Tuesday, July 21st. Cantor Fitzgerald raised their price objective on shares of ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Citizens Jmp restated a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Wolfe Research set a $125.00 price objective on shares of ServiceNow in a research note on Thursday, April 23rd.

ServiceNow Trading Up 0.0%

NOW opened at $124.91 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow has a one year low of $81.24 and a one year high of $194.73. The company has a market cap of $129.16 billion, a P/E ratio of 78.07, a PEG ratio of 2.20 and a beta of 0.94. The business’s 50-day simple moving average is $106.73 and its 200-day simple moving average is $105.71.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. As a group, equities research analysts expect that ServiceNow will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,993 shares of company stock valued at $1,716,436 over the last quarter. 0.34% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the period. BlackRock Inc. acquired a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $9,536,615,000. State Street Corp lifted its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 371.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after buying an additional 25,517,218 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

About ServiceNow

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.