TD Cowen Boosts ServiceNow (NYSE:NOW) Price Target to $1,000.00

ServiceNow (NYSE:NOW) had its price target raised by investment analysts at TD Cowen from $900.00 to $1,000.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. TD Cowen’s price target would suggest a potential upside of 10.86% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. JMP Securities boosted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday. UBS Group upped their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Stifel Nicolaus lifted their price target on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Citigroup boosted their price target on ServiceNow from $915.00 to $1,068.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Mizuho raised their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $923.00.

ServiceNow Stock Performance

Shares of NOW stock opened at $902.00 on Monday. The company has a market capitalization of $184.91 billion, a price-to-earnings ratio of 96.47, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow has a 1-year low of $527.24 and a 1-year high of $949.59. 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 stock’s fifty day simple moving average is $874.61 and its 200-day simple moving average is $792.22.

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

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, 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 link. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,267 shares of company stock valued at $5,935,447. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Large investors have recently made changes to their positions in the company. Riverview Trust Co bought a new stake in ServiceNow during the first quarter worth about $114,000. Dynamic Advisor Solutions LLC grew its position in ServiceNow by 80.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,204 shares of the information technology services provider’s stock worth $2,443,000 after acquiring an additional 1,426 shares during the last quarter. Richelieu Gestion SA increased its holdings in ServiceNow by 2,500.0% during the 1st quarter. Richelieu Gestion SA now owns 260 shares of the information technology services provider’s stock valued at $198,000 after purchasing an additional 250 shares in the last quarter. IAM Advisory LLC raised its position in ServiceNow by 2.1% in the 1st quarter. IAM Advisory LLC now owns 1,059 shares of the information technology services provider’s stock valued at $807,000 after purchasing an additional 22 shares during the last quarter. Finally, CFM Wealth Partners LLC boosted its stake in ServiceNow by 140.4% in the first quarter. CFM Wealth Partners LLC now owns 3,435 shares of the information technology services provider’s stock worth $2,619,000 after purchasing an additional 2,006 shares in the last quarter. Institutional investors 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.