ServiceNow (NYSE:NOW) Price Target Raised to $1,000.00 at JMP Securities

ServiceNow (NYSE:NOW) had its price target lifted by research analysts at JMP Securities from $850.00 to $1,000.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the information technology services provider’s stock. JMP Securities’ price objective points to a potential upside of 8.48% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Evercore ISI increased their target price on shares of ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Canaccord Genuity Group restated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. Citigroup upped their target price on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Robert W. Baird raised their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Mizuho lifted their price target on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $914.15.

ServiceNow Trading Up 0.5 %

Shares of NYSE:NOW opened at $921.80 on Thursday. ServiceNow has a 12-month low of $527.24 and a 12-month high of $949.59. The business has a 50 day moving average of $874.61 and a 200-day moving average of $791.74. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $188.97 billion, a PE ratio of 98.59, a P/E/G ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. As a group, equities research analysts forecast that ServiceNow will post 6.78 earnings per share for the current year.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were 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 in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,267 shares of company stock valued at $5,935,447. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NOW. Swedbank AB bought a new stake in ServiceNow during the 1st quarter worth approximately $897,908,000. Global Assets Advisory LLC purchased a new stake in ServiceNow in the 1st quarter valued at $403,034,000. Vanguard Group Inc. raised its position in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in ServiceNow during the 2nd quarter worth $218,786,000. Finally, Acadian Asset Management LLC grew its stake in shares of ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after acquiring an additional 271,073 shares in 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.