Sanford C. Bernstein Boosts ServiceNow (NYSE:NOW) Price Target to $913.00

ServiceNow (NYSE:NOW) had its target price upped by Sanford C. Bernstein from $906.00 to $913.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

A number of other analysts have also weighed in on NOW. Barclays increased their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity Group raised their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group raised their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Citigroup raised their price target on ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, JMP Securities raised their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Stock Performance

NYSE:NOW opened at $950.85 on Thursday. The firm has a market cap of $195.88 billion, a PE ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. ServiceNow has a fifty-two week low of $548.44 and a fifty-two week high of $979.78. 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 business has a 50 day moving average price of $885.56 and a 200-day moving average price of $797.46.

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

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently added to or reduced their stakes in the stock. Financial Advocates Investment Management boosted its position in ServiceNow by 5.5% during the third quarter. Financial Advocates Investment Management now owns 556 shares of the information technology services provider’s stock valued at $497,000 after purchasing an additional 29 shares in the last quarter. Cornerstone Wealth Group LLC boosted its position in ServiceNow by 1.9% during the third quarter. Cornerstone Wealth Group LLC now owns 4,924 shares of the information technology services provider’s stock valued at $4,404,000 after purchasing an additional 90 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in ServiceNow by 20.4% during the third quarter. First Trust Direct Indexing L.P. now owns 7,515 shares of the information technology services provider’s stock valued at $6,721,000 after purchasing an additional 1,274 shares in the last quarter. Evermay Wealth Management LLC boosted its position in ServiceNow by 29.0% during the third quarter. Evermay Wealth Management LLC now owns 791 shares of the information technology services provider’s stock valued at $707,000 after purchasing an additional 178 shares in the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in ServiceNow during the third quarter valued at about $490,000. Institutional investors 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.