ServiceNow (NYSE:NOW) PT Raised to $980.00

ServiceNow (NYSE:NOW) had its price target boosted by Barclays from $890.00 to $980.00 in a research report released on Friday, Benzinga reports. Barclays currently has an overweight rating on the information technology services provider’s stock.

Several other analysts also recently weighed in on NOW. TD Cowen raised their target price on ServiceNow from $870.00 to $900.00 and gave the company a buy rating in a research note on Thursday, July 25th. BMO Capital Markets raised their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an outperform rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on ServiceNow from $780.00 to $820.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. Wells Fargo & Company lifted their price target on ServiceNow from $935.00 to $1,025.00 and gave the stock an overweight rating in a research note on Monday, October 7th. Finally, UBS Group lifted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a buy rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $880.04.

ServiceNow Trading Down 0.6 %

NYSE:NOW opened at $938.59 on Friday. The business’s 50-day moving average is $861.16 and its two-hundred day moving average is $786.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a 12 month low of $527.24 and a 12 month high of $949.00. The firm has a market capitalization of $192.41 billion, a PE ratio of 100.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results 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. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. Research analysts predict that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred 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 sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred 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 sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was 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 available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Swedbank AB bought a new stake in ServiceNow during the first quarter worth approximately $897,908,000. Global Assets Advisory LLC bought a new stake in ServiceNow during the first quarter worth approximately $403,034,000. Vanguard Group Inc. grew its position in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in ServiceNow in the second quarter worth approximately $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after buying an additional 271,153 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.