ServiceNow (NYSE:NOW) Price Target Increased to $900.00 by Analysts at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its price objective increased by Stifel Nicolaus from $820.00 to $900.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ price target points to a potential upside of 10.14% from the stock’s previous close.

Other analysts also recently issued reports about the company. Citigroup increased their price objective on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. KeyCorp decreased their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. BMO Capital Markets decreased their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Jefferies Financial Group raised their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $822.80.

ServiceNow Price Performance

NYSE:NOW traded up $86.27 during trading hours on Thursday, reaching $817.14. 1,857,498 shares of the company were exchanged, compared to its average volume of 1,288,222. The business has a 50 day moving average of $741.36 and a 200 day moving average of $749.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow has a 1-year low of $527.24 and a 1-year high of $828.00. The company has a market capitalization of $167.51 billion, a P/E ratio of 88.12, a P/E/G ratio of 4.80 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Research analysts forecast that ServiceNow will post 6.5 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,530 shares of company stock worth $3,997,012. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings 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 period. Jennison Associates LLC lifted its holdings in ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares during the period. Norges Bank purchased a new stake in ServiceNow in the fourth quarter worth about $1,648,259,000. Massachusetts Financial Services Co. MA lifted its holdings in ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after buying an additional 81,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings 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 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.