ServiceNow (NYSE:NOW) Trading 0.8% Higher

ServiceNow, Inc. (NYSE:NOW) shares rose 0.8% during mid-day trading on Thursday . The company traded as high as $695.36 and last traded at $690.95. Approximately 178,515 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,209,549 shares. The stock had previously closed at $685.61.

Analysts Set New Price Targets

Several research firms recently weighed in on NOW. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. UBS Group lowered their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. KeyCorp lowered their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Piper Sandler raised their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Truist Financial lifted their price target on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $807.28.

ServiceNow Price Performance

The stock has a market capitalization of $142.38 billion, a price-to-earnings ratio of 73.90, a P/E/G ratio of 4.35 and a beta of 0.98. The company has a fifty day simple moving average of $755.91 and a 200 day simple moving average of $711.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05.

Insider Activity

In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was 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 directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The disclosure for this sale can be found here. Insiders have sold 11,369 shares of company stock valued at $8,538,300 in the last ninety days. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently made changes to their positions in the stock. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the fourth quarter worth about $29,000. AdvisorNet Financial Inc lifted its holdings in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Sachetta LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $35,000. PFG Private Wealth Management LLC purchased a new position in shares of ServiceNow during the third quarter valued at approximately $28,000. Finally, Disciplined Equity Management Inc. bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.