ServiceNow (NYSE:NOW) PT Raised to $1,000.00

ServiceNow (NYSE:NOW) had its target price lifted by equities research analysts at JMP Securities from $850.00 to $1,000.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the information technology services provider’s stock. JMP Securities’ target price suggests a potential upside of 8.48% from the company’s current price.

Several other analysts have also recently weighed in on NOW. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Wells Fargo & Company increased their price objective on shares of ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Truist Financial upped their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $914.15.

ServiceNow Price Performance

NOW opened at $921.80 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $188.97 billion, a P/E ratio of 98.59, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company’s 50 day simple moving average is $874.61 and its 200-day simple moving average is $791.74. ServiceNow has a one year low of $527.24 and a one year high of $949.59.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% 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 period last year, the company earned $0.77 EPS. Sell-side analysts anticipate that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,267 shares of company stock worth $5,935,447. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. First Affirmative Financial Network grew its stake in shares of ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after buying an additional 12 shares in the last quarter. Morling Financial Advisors LLC grew its position in shares of ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the period. CX Institutional increased its stake in shares of ServiceNow by 1.2% during the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after purchasing an additional 13 shares during the last quarter. Optas LLC raised its holdings in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the period. Finally, Cedar Wealth Management LLC lifted its stake in ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.