ServiceNow (NYSE:NOW) Given New $900.00 Price Target at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its target price raised by Stifel Nicolaus from $820.00 to $900.00 in a research report sent to investors on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the information technology services provider’s stock.

NOW has been the topic of several other research reports. UBS Group cut their price objective on ServiceNow from $920.00 to $875.00 and set a buy rating on the stock in a report on Thursday, April 25th. BMO Capital Markets cut their price objective on ServiceNow from $850.00 to $830.00 and set an outperform rating on the stock in a report on Thursday, April 25th. William Blair reiterated an outperform rating on shares of ServiceNow in a report on Tuesday, May 7th. Jefferies Financial Group lifted their target price on ServiceNow from $885.00 to $900.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a buy rating and issued a $900.00 target price on shares of ServiceNow in a research report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $833.57.

ServiceNow Price Performance

Shares of NOW opened at $828.16 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow has a 1 year low of $527.24 and a 1 year high of $850.33. The stock has a market cap of $169.77 billion, a P/E ratio of 88.57, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. The stock’s 50-day moving average price is $742.77 and its two-hundred day moving average price is $750.01.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 15.01% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business posted $0.77 EPS. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, equities analysts predict that ServiceNow will post 6.5 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. In the last three months, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by company insiders.

Institutional Trading of ServiceNow

Several institutional investors have recently added to or reduced their stakes in NOW. Federated Hermes Inc. lifted its position in shares of ServiceNow by 19.8% during the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after acquiring an additional 49,631 shares during the period. M&G Plc bought a new stake in shares of ServiceNow during the 1st quarter valued at $11,030,000. Smithfield Trust Co lifted its position in shares of ServiceNow by 36.4% during the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after acquiring an additional 262 shares during the period. Dohj LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at $913,000. Finally, New Mexico Educational Retirement Board lifted its position in shares of ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after acquiring an additional 1,000 shares during the period. 87.18% of the stock is currently owned by institutional investors.

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.