ServiceNow (NYSE:NOW) Price Target Raised to $1,150.00

ServiceNow (NYSE:NOW) had its price objective hoisted by Wells Fargo & Company from $1,050.00 to $1,150.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Robert W. Baird lifted their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, JMP Securities boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $974.04.

ServiceNow Trading Down 0.6 %

NOW opened at $1,039.74 on Tuesday. The business’s 50 day moving average price is $924.67 and its 200 day moving average price is $819.71. ServiceNow has a one year low of $637.99 and a one year high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $214.19 billion, a PE ratio of 161.70, a P/E/G ratio of 6.00 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the company earned $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities research analysts expect that ServiceNow will post 7.07 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,325 shares of company stock valued at $5,024,928 in the last quarter. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently made changes to their positions in the company. M&G Plc bought a new position in ServiceNow in the first quarter valued at approximately $11,030,000. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after acquiring an additional 765 shares during the last quarter. AXA S.A. increased its stake in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares in the last quarter. Finally, HWG Holdings LP bought a new position in shares of ServiceNow during the second quarter worth $2,679,000. 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.