New Big Money Means ServiceNow Inc (NOW) Investors Could Reap Benefit

ServiceNow Inc (NYSE: NOW) is 13.15% higher on its value in year-to-date trading and has touched a low of $405.37 and a high of $793.47 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NOW stock was last observed hovering at around $790.39 in the last trading session, with the day’s gains setting it 9.02%.

Currently trading at $799.41, the stock is 5.40% and 11.19% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.89 million and changing 1.14% at the moment leaves the stock 34.01% off its SMA200. NOW registered 72.56% gain for a year compared to 6-month gain of 45.26%. The firm has a 50-day simple moving average (SMA 50) of $17.98 and a 200-day simple moving average (SMA200) of $101.18.

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The stock witnessed a 14.42% loss in the last 1 month and extending the period to 3 months gives it a 30.22%, and is 3.68% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.91% over the week and 1.95% over the month.

ServiceNow Inc (NOW) has around 22668 employees, a market worth around $163.88B and $8.97B in sales. Current P/E ratio is 94.98 and Fwd P/E is 49.97. Profit margin for the company is 19.30%. Distance from 52-week low is 97.20% and 0.75% from its 52-week high. The company has generated returns on investments over the last 12 months (17.62%).

ServiceNow Inc quarterly earnings per share for the current quarter are estimated at $3.14 with sales reaching $2.59B over the same period.The EPS is expected to grow by 22.12% this year, but quarterly earnings will post 21.30% year-over-year. Quarterly sales are estimated to grow 23.50% in year-over-year returns.

2,304 institutions hold shares in ServiceNow Inc (NOW), with institutional investors hold 90.92% of the company’s shares. The shares outstanding are 204.72M, and float is at 203.89M with Short Float at 1.40%. Institutions hold 90.75% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 17.63 million shares valued at $9.91 billion. The investor’s holdings represent 8.64% of the NOW Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 15.08 million shares valued at $8.48 billion to account for 7.39% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 10.26 million shares representing 5.03% and valued at over $5.77 billion, while State Street Corporation holds 4.04% of the shares totaling 8.24 million with a market value of $4.63 billion.

ServiceNow Inc (NOW) Insider Activity

A total of 145 insider transactions have happened at ServiceNow Inc (NOW) in the last six months, with sales accounting for 86 and purchases happening 59 times. The most recent transaction is an insider sale by Bedi Christopher, the company’s Chief Digital Information Ofc. SEC filings show that Bedi Christopher sold 1,150 shares of the company’s common stock on Feb 02 at a price of $782.29 per share for a total of $0.9 million. Following the sale, the insider now owns 14592.0 shares.

ServiceNow Inc disclosed in a document filed with the SEC on Jan 30 that Smith Paul John (Chief Commercial Officer) sold a total of 1,795 shares of the company’s common stock. The trade occurred on Jan 30 and was made at $781.06 per share for $1.4 million. Following the transaction, the insider now directly holds 0.0 shares of the NOW stock.

Still, SEC filings show that on Jan 29, Canney Jacqueline P (Chief People Officer) disposed off 837 shares at an average price of $776.61 for $0.65 million. The insider now directly holds 994 shares of ServiceNow Inc (NOW).

ServiceNow Inc (NOW): Who are the competitors?

One of the company’s main competitors (and peers) include Salesforce Inc. (CRM) that is trading 74.79% up over the past 12 months.Oracle Corp. (ORCL) lies in the list of competitors of the ServiceNow Inc and is 33.90% higher over the same period from NOWSynopsys Inc. (SNPS) is 58.92% up on the 1-year trading charts.