ServiceNow (NYSE:NOW) Price Target Raised to $900.00

ServiceNow (NYSE:NOW) had its target price boosted by Wells Fargo & Company from $875.00 to $900.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other research analysts have also recently commented on the company. Mizuho boosted their price target on ServiceNow from $750.00 to $820.00 and gave the stock a buy rating in a report on Thursday, January 25th. Robert W. Baird boosted their price target on ServiceNow from $780.00 to $870.00 and gave the stock an outperform rating in a report on Thursday, January 25th. KeyCorp assumed coverage on ServiceNow in a report on Thursday, March 21st. They issued an overweight rating and a $1,000.00 price target on the stock. Truist Financial boosted their price target on ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group lifted their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $780.37.

ServiceNow Stock Down 0.7 %

NOW stock opened at $731.47 on Tuesday. ServiceNow has a twelve month low of $427.68 and a twelve month high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market cap of $150.23 billion, a P/E ratio of 86.98, a PEG ratio of 4.71 and a beta of 0.97. The business’s 50-day moving average price is $766.17 and its 200-day moving average price is $700.64.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow will post 6.16 EPS for the current year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 in the last quarter. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently made changes to their positions in NOW. RB Capital Management LLC lifted its holdings in shares of ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock worth $531,000 after buying an additional 192 shares during the period. Zions Bancorporation N.A. lifted its holdings in shares of ServiceNow by 17.9% in the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after buying an additional 133 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after buying an additional 1,689 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after buying an additional 29 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of ServiceNow by 0.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after buying an additional 86 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.