ServiceNow (NYSE:NOW) Price Target Raised to $990.00 at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its price target lifted by Stifel Nicolaus from $900.00 to $990.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

Other research analysts have also issued reports about the company. Piper Sandler upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday. Guggenheim reissued a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Truist Financial increased their target price on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday. Jefferies Financial Group boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. 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 research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Down 0.6 %

Shares of ServiceNow stock opened at $950.85 on Thursday. ServiceNow has a 52-week low of $548.44 and a 52-week high of $979.78. The stock has a 50-day simple moving average of $885.56 and a 200-day simple moving average of $797.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $195.88 billion, a price-to-earnings ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. On average, equities research analysts expect that ServiceNow will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares in the company, 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 SEC, which is accessible through this hyperlink. In related news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the transaction, the director now 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock worth $4,450,447 in the last quarter. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently modified their holdings of the business. M&G Plc bought a new stake in ServiceNow during the 1st quarter worth approximately $11,030,000. AXA S.A. increased its position in shares of ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of ServiceNow during the second quarter worth $2,679,000. New Mexico Educational Retirement Board lifted its position in ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.