ServiceNow (NYSE:NOW) PT Raised to $1,025.00

ServiceNow (NYSE:NOW) had its price objective lifted by Wells Fargo & Company from $935.00 to $1,025.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other research analysts have also weighed in on NOW. Citigroup increased their target price on ServiceNow from $909.00 to $911.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. 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 note on Thursday, July 25th. Truist Financial increased their target price on shares of ServiceNow from $750.00 to $780.00 and gave the stock a hold rating in a research report on Thursday, July 25th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $820.00 to $900.00 and gave the company a buy rating in a research report on Thursday, July 25th. Finally, JMP Securities increased their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the stock a market outperform rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $875.81.

ServiceNow Stock Up 0.7 %

Shares of NYSE:NOW opened at $944.87 on Monday. 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 market cap of $194.64 billion, a price-to-earnings ratio of 170.86, a PEG ratio of 5.63 and a beta of 0.99. The stock’s 50-day moving average price is $855.54 and its two-hundred day moving average price is $783.92. ServiceNow has a 12-month low of $527.24 and a 12-month high of $949.00.

ServiceNow (NYSE:NOW) last released 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 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%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. On average, research analysts forecast that ServiceNow will post 6.78 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction on 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 owns 10,767 shares in the company, valued at $8,850,474. 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 6,914 shares of company stock valued at $5,608,936 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of NOW. CVA Family Office LLC boosted its stake in ServiceNow by 4.9% in the third quarter. CVA Family Office LLC now owns 552 shares of the information technology services provider’s stock valued at $494,000 after acquiring an additional 26 shares during the period. Willner & Heller LLC acquired a new position in ServiceNow during the 3rd quarter valued at approximately $322,000. McGlone Suttner Wealth Management Inc. bought a new position in ServiceNow during the 3rd quarter worth $262,000. Koshinski Asset Management Inc. increased its position in ServiceNow by 22.6% in the third quarter. Koshinski Asset Management Inc. now owns 2,948 shares of the information technology services provider’s stock worth $2,637,000 after buying an additional 543 shares during the period. Finally, Shaker Investments LLC OH bought a new stake in ServiceNow in the third quarter valued at $2,006,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

About ServiceNow

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.