ServiceNow (NYSE:NOW) Price Target Raised to $850.00

ServiceNow (NYSE:NOW) had its price target raised by JMP Securities from $825.00 to $850.00 in a research report sent to investors on Thursday, Benzinga reports. JMP Securities currently has a market outperform rating on the information technology services provider’s stock.

Several other equities analysts have also recently issued reports on NOW. Canaccord Genuity Group reiterated a buy rating and issued a $835.00 price objective on shares of ServiceNow in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on ServiceNow from $875.00 to $900.00 and gave the stock a buy rating in a research report on Thursday. KeyCorp cut their target price on ServiceNow from $950.00 to $920.00 and set an overweight rating on the stock in a research report on Tuesday, July 2nd. William Blair reissued an outperform rating on shares of ServiceNow in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus raised their target price on ServiceNow from $820.00 to $900.00 and gave the stock a buy rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $833.57.

ServiceNow Stock Performance

Shares of NOW opened at $823.46 on Thursday. The stock has a 50-day simple moving average of $742.77 and a 200-day simple moving average of $750.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $168.81 billion, a PE ratio of 88.57, a PEG ratio of 4.58 and a beta of 0.99. ServiceNow has a 1 year low of $527.24 and a 1 year high of $850.33.

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

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the sale, the chief financial officer now owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the sale, the chief financial officer now owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock valued at $3,997,012 over the last quarter. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several large investors have recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc boosted its stake in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the fourth quarter valued at $29,000. EntryPoint Capital LLC boosted its stake in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake 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 acquiring an additional 32 shares during the last quarter. 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.