Piper Sandler Raises ServiceNow (NYSE:NOW) Price Target to $1,000.00

ServiceNow (NYSE:NOW) had its price objective upped by Piper Sandler from $850.00 to $1,000.00 in a research report released on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the information technology services provider’s stock.

A number of other equities analysts also recently issued reports on NOW. Wells Fargo & Company upped 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. Royal Bank of Canada increased their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays upped their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer upped their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Stock Down 0.6 %

Shares of NOW opened at $950.85 on Thursday. The firm has a market capitalization of $195.88 billion, a P/E ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow has a 12-month low of $548.44 and a 12-month high of $979.78. The firm has a fifty day moving average price of $885.56 and a 200-day moving average price of $797.46.

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 business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Equities research analysts expect that ServiceNow will post 7.41 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. The trade was 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 hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. 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 ninety days, insiders have sold 5,467 shares of company stock valued at $4,450,447. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently modified their holdings of the company. First Affirmative Financial Network boosted its holdings in ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 12 shares during the period. Capital Advisors Ltd. LLC increased its position in ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares during the period. Morling Financial Advisors LLC lifted its holdings in shares of ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the last quarter. CX Institutional boosted its position in shares of ServiceNow by 1.2% in the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after acquiring an additional 13 shares during the period. Finally, Optas LLC grew its stake in shares of ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares during the last quarter. Institutional investors 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.