ServiceNow (NYSE:NOW) Price Target Increased to $980.00 by Analysts at Mizuho

ServiceNow (NYSE:NOW) had its target price increased by Mizuho from $850.00 to $980.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

NOW has been the subject of a number of other reports. KeyCorp reduced their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. BMO Capital Markets raised their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Royal Bank of Canada raised their price objective on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price objective on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, UBS Group raised their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $914.15.

ServiceNow Stock Performance

Shares of NOW stock opened at $917.12 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average price of $872.40 and a 200 day moving average price of $790.68. The company has a market cap of $188.01 billion, a P/E ratio of 98.09, a PEG ratio of 5.63 and a beta of 0.99. ServiceNow has a 12 month low of $527.24 and a 12 month high of $949.59.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Sell-side analysts predict that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,267 shares of company stock worth $5,935,447 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC purchased a new position in ServiceNow in the first quarter valued at 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 valued at $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC increased its holdings 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 buying an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new position in ServiceNow in the second quarter valued at about $32,000. Finally, TFC Financial Management Inc. increased its stake in shares of ServiceNow by 466.7% during the 1st quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 42 shares in the last quarter. 87.18% of the stock is 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.