ServiceNow (NYSE:NOW) Price Target Raised to $1,000.00

ServiceNow (NYSE:NOW) had its target price upped by TD Cowen from $900.00 to $1,000.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Several other equities research analysts have also weighed in on NOW. Jefferies Financial Group increased their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Stifel Nicolaus boosted their target price on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Oppenheimer raised their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $970.22.

ServiceNow Trading Up 5.4 %

NYSE NOW opened at $956.40 on Monday. 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 has a one year low of $527.24 and a one year high of $979.78. The company has a 50-day simple moving average of $880.60 and a 200-day simple moving average of $795.09. The firm has a market capitalization of $197.02 billion, a PE ratio of 172.95, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, equities analysts forecast that ServiceNow will post 7.41 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. 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 is available at this link. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’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 transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,467 shares of company stock valued at $4,450,447. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc increased its holdings 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 buying an additional 28 shares during the last quarter. DT Investment Partners LLC raised its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. EntryPoint Capital LLC lifted its stake 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 valued at $30,000 after acquiring an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in ServiceNow in the second quarter worth approximately $32,000. 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.