ServiceNow (NYSE:NOW) Price Target Increased to $913.00 by Analysts at Sanford C. Bernstein

ServiceNow (NYSE:NOW) had its target price boosted by Sanford C. Bernstein from $906.00 to $913.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

A number of other research firms also recently issued reports on NOW. UBS Group increased their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays upped their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday. Canaccord Genuity Group upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho upped their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird upped their price target on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $970.22.

ServiceNow Trading Up 0.4 %

NOW traded up $4.12 on Thursday, reaching $960.70. 280,490 shares of the company’s stock were exchanged, compared to its average volume of 1,280,686. The company’s 50 day moving average is $880.60 and its 200-day moving average is $795.09. The company has a market cap of $197.90 billion, a price-to-earnings ratio of 172.95, a PEG ratio of 5.04 and a beta of 0.99. ServiceNow has a twelve month low of $548.44 and a twelve month high of $979.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s 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. Equities analysts predict that ServiceNow will post 7.41 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now directly owns 10,767 shares in the company, valued at $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,467 shares of company stock valued at $4,450,447 over the last three months. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its position in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. Ridgewood Investments LLC bought a new stake in ServiceNow in the second quarter worth about $32,000. Finally, DT Investment Partners LLC raised its position in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.