ServiceNow (NYSE:NOW) PT Raised to $900.00

ServiceNow (NYSE:NOW) had its price objective hoisted by equities researchers at Deutsche Bank Aktiengesellschaft from $875.00 to $900.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 6.75% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price target on shares of ServiceNow in a research note on Tuesday. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Wells Fargo & Company lifted their target price on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Truist Financial increased their price target on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $828.89.

ServiceNow Stock Up 15.4 %

NYSE NOW traded up $112.26 during trading hours on Thursday, hitting $843.13. The company had a trading volume of 4,768,230 shares, compared to its average volume of 1,311,328. The firm’s 50 day moving average is $741.36 and its 200 day moving average is $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 fifty-two week low of $527.24 and a fifty-two week high of $850.33. The company has a market capitalization of $172.84 billion, a price-to-earnings ratio of 90.16, a P/E/G ratio of 4.80 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Sell-side analysts anticipate that ServiceNow will post 6.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul John Smith sold 190 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the transaction, the insider now owns 3,010 shares in the company, valued at approximately $2,163,527.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 190 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,530 shares of company stock valued at $3,997,012. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. Jennison Associates LLC lifted its position in shares of ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after acquiring an additional 53,719 shares during the last quarter. Norges Bank acquired a new stake in shares of ServiceNow during the fourth quarter worth $1,648,259,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of ServiceNow by 18.3% in the 4th 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 valued at $1,239,198,000 after purchasing an additional 271,153 shares during the period. 87.18% of the stock is currently owned by 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.