ServiceNow (NYSE:NOW) Price Target Raised to $1,150.00

ServiceNow (NYSE:NOW) had its price target increased by equities researchers at Wells Fargo & Company from $1,050.00 to $1,150.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 11.08% from the company’s current price.

Several other analysts also recently issued reports on the company. BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. KeyCorp upped their price objective on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Evercore ISI boosted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $974.04.

ServiceNow Trading Down 0.1 %

NYSE NOW opened at $1,035.31 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow has a 12 month low of $632.25 and a 12 month high of $1,038.00. The firm’s fifty day moving average price is $916.20 and its 200 day moving average price is $815.82. The company has a market capitalization of $213.27 billion, a price-to-earnings ratio of 161.26, a price-to-earnings-growth ratio of 5.79 and a beta of 0.98.

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 the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the business earned $1.21 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts expect that ServiceNow will post 7.07 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 10,767 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. In related news, Director Paul Edward Chamberlain sold 135 shares of the 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 of the company’s stock, valued at $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,539 shares of company stock worth $2,138,333. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of the business. Trustmark National Bank Trust Department lifted its stake in ServiceNow by 96.4% during the third quarter. Trustmark National Bank Trust Department now owns 1,591 shares of the information technology services provider’s stock worth $1,423,000 after purchasing an additional 781 shares in the last quarter. Overbrook Management Corp increased its stake in shares of ServiceNow by 3.0% during the third quarter. Overbrook Management Corp now owns 10,843 shares of the information technology services provider’s stock worth $9,698,000 after acquiring an additional 317 shares during the period. Intech Investment Management LLC increased its holdings in ServiceNow by 17.1% in the third quarter. Intech Investment Management LLC now owns 7,483 shares of the information technology services provider’s stock valued at $6,693,000 after buying an additional 1,095 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of ServiceNow by 25.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,779 shares of the information technology services provider’s stock worth $3,380,000 after purchasing an additional 758 shares in the last quarter. Finally, Moran Wealth Management LLC raised its holdings in ServiceNow by 36.8% in the 3rd quarter. Moran Wealth Management LLC now owns 1,174 shares of the information technology services provider’s stock valued at $1,050,000 after acquiring an additional 316 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.