ServiceNow (NYSE:NOW) Price Target Increased to $1,050.00 by Analysts at Wells Fargo & Company

ServiceNow (NYSE:NOW) had its price objective raised by Wells Fargo & Company from $1,025.00 to $1,050.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 9.19% from the stock’s current price.

Several other brokerages have also recently weighed in on NOW. Evercore ISI increased their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer boosted their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $958.00.

ServiceNow Price Performance

Shares of NYSE NOW traded up $53.93 during midday trading on Thursday, hitting $961.61. 1,506,349 shares of the company’s stock were exchanged, compared to its average volume of 1,276,344. The business’s fifty day moving average price is $880.60 and its two-hundred day moving average price is $795.09. 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 company has a market cap of $197.13 billion, a price-to-earnings ratio of 104.60, 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 $979.78.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share 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 analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. As a group, research analysts forecast that ServiceNow will post 6.78 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This 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 accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock valued at $4,450,447 over the last ninety days. 0.25% of the stock is owned by company insiders.

Institutional Trading of ServiceNow

Several large investors have recently made changes to their positions in NOW. Thrive Wealth Management LLC boosted its position in ServiceNow by 7.7% during the first quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock worth $297,000 after acquiring an additional 28 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in ServiceNow by 15.4% during the first quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock worth $935,000 after buying an additional 164 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in ServiceNow in the 1st quarter valued at $138,000. Webster Bank N. A. raised its holdings in shares of ServiceNow by 16.8% during the 1st quarter. Webster Bank N. A. now owns 4,025 shares of the information technology services provider’s stock worth $3,069,000 after acquiring an additional 580 shares during the period. Finally, Independence Bank of Kentucky grew its holdings in shares of ServiceNow by 27.2% in the first quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock valued at $89,000 after purchasing an additional 25 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.