ServiceNow (NYSE:NOW) Price Target Raised to $975.00

ServiceNow (NYSE:NOW) had its price objective boosted by Robert W. Baird from $900.00 to $975.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the information technology services provider’s stock.

A number of other analysts also recently weighed in on the stock. JMP Securities increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Oppenheimer increased their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Guggenheim reiterated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Wells Fargo & Company boosted their price target on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Down 0.6 %

NOW opened at $950.85 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s fifty day moving average is $885.56 and its 200-day moving average is $797.66. ServiceNow has a one year low of $548.44 and a one year high of $979.78. The company has a market capitalization of $194.92 billion, a PE ratio of 101.70, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. On average, equities analysts predict that ServiceNow will post 7.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock valued at $4,450,447 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently modified their holdings of NOW. Financial Advocates Investment Management boosted its stake in ServiceNow by 5.5% during the 3rd quarter. Financial Advocates Investment Management now owns 556 shares of the information technology services provider’s stock worth $497,000 after purchasing an additional 29 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in ServiceNow by 1.9% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 4,924 shares of the information technology services provider’s stock valued at $4,404,000 after purchasing an additional 90 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in ServiceNow by 20.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,515 shares of the information technology services provider’s stock valued at $6,721,000 after acquiring an additional 1,274 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in ServiceNow by 29.0% in the 3rd quarter. Evermay Wealth Management LLC now owns 791 shares of the information technology services provider’s stock worth $707,000 after buying an additional 178 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new stake in ServiceNow in the third quarter valued at approximately $490,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

About ServiceNow

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.