ServiceNow (NYSE:NOW) Shares Up 2.4% – Should You Buy?
by Renee Jackson · The Cerbat GemServiceNow, Inc. (NYSE:NOW – Get Free Report) was up 2.4% on Monday . The company traded as high as $136.63 and last traded at $136.31. Approximately 17,441,114 shares traded hands during trading, an increase of 34% from the average daily volume of 12,971,080 shares. The stock had previously closed at $133.11.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Barclays boosted their price objective on ServiceNow from $242.00 to $245.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. BMO Capital Markets reduced their price target on ServiceNow from $230.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Morgan Stanley set a $263.00 price objective on shares of ServiceNow and gave the company an “overweight” rating in a report on Thursday, October 30th. Cantor Fitzgerald cut their target price on shares of ServiceNow from $240.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $224.00 price target on shares of ServiceNow in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.24.
View Our Latest Analysis on NOW
ServiceNow Stock Performance
The company’s 50-day moving average price is $153.50 and its two-hundred day moving average price is $172.88. The company has a market capitalization of $141.54 billion, a price-to-earnings ratio of 70.95, a PEG ratio of 2.29 and a beta of 0.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 1.06.
Insider Activity
In other ServiceNow news, Director Lawrence Jackson sold 1,325 shares of ServiceNow stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $162.04, for a total value of $214,708.30. Following the completion of the sale, the director directly owned 1,615 shares in the company, valued at approximately $261,701.06. The trade was a 45.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $161.60, for a total value of $242,400.00. Following the completion of the transaction, the director directly owned 47,930 shares in the company, valued at approximately $7,745,488. This trade represents a 3.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 15,310 shares of company stock worth $2,533,585. 0.34% of the stock is owned by insiders.
Institutional Trading of ServiceNow
Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC increased its position in ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after buying an additional 34 shares in the last quarter. Patton Fund Management Inc. acquired a new position in ServiceNow during the 2nd quarter worth approximately $239,000. ORG Partners LLC boosted its holdings in ServiceNow by 11.8% in the second quarter. ORG Partners LLC now owns 161 shares of the information technology services provider’s stock worth $163,000 after acquiring an additional 17 shares in the last quarter. Finally, Diversified Enterprises LLC acquired a new stake in ServiceNow in the second quarter valued at approximately $454,000. 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.