ServiceNow (NYSE:NOW) PT Raised to $980.00 at Barclays

ServiceNow (NYSE:NOW) had its price target upped by equities researchers at Barclays from $890.00 to $980.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s price target suggests a potential upside of 4.41% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Guggenheim restated a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. TD Cowen upped their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. KeyCorp cut their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Monday, September 9th. Finally, Piper Sandler upped their price target on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $880.04.

ServiceNow Trading Down 0.6 %

NYSE:NOW opened at $938.59 on Friday. ServiceNow has a 1 year low of $527.24 and a 1 year high of $949.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty day moving average price of $861.16 and a two-hundred day moving average price of $786.23. The stock has a market capitalization of $192.41 billion, a price-to-earnings ratio of 100.38, a PEG ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 187 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The shares were 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 of the company’s stock, valued at $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 in the last three months. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning raised its stake in shares of ServiceNow by 8.1% during the third quarter. Creative Planning now owns 55,887 shares of the information technology services provider’s stock valued at $49,985,000 after purchasing an additional 4,170 shares during the period. Wesbanco Bank Inc. lifted its holdings in ServiceNow by 40.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 366 shares of the information technology services provider’s stock worth $327,000 after buying an additional 106 shares in the last quarter. CX Institutional boosted its position in ServiceNow by 1.2% in the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after buying an additional 13 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of ServiceNow by 20.9% during the third quarter. Sivia Capital Partners LLC now owns 474 shares of the information technology services provider’s stock valued at $424,000 after acquiring an additional 82 shares in the last quarter. Finally, Grove Bank & Trust increased its position in shares of ServiceNow by 1.5% during the third quarter. Grove Bank & Trust now owns 4,258 shares of the information technology services provider’s stock worth $3,808,000 after acquiring an additional 63 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.