ServiceNow (NYSE:NOW) PT Raised to $1,000.00

by · The Markets Daily

ServiceNow (NYSE:NOW – Free Report) had its price target lifted by JMP Securities from $850.00 to $1,000.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a market outperform rating on the information technology services provider’s stock.

NOW has been the topic of a number of other research reports. BMO Capital Markets raised their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Evercore ISI raised their price objective on ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. KeyCorp dropped their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. 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. Finally, UBS Group upped their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $914.15.

Get Our Latest Stock Analysis on NOW

ServiceNow Stock Up 0.5 %

NOW stock opened at $921.75 on Thursday. 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 company’s 50 day simple moving average is $874.61 and its 200-day simple moving average is $791.98. ServiceNow has a 12 month low of $527.24 and a 12 month high of $949.59. The firm has a market capitalization of $188.96 billion, a PE ratio of 98.58, a P/E/G ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts expect that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. This trade 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 other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,267 shares of company stock worth $5,935,447. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ServiceNow by 1.8% during 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 purchasing an additional 331,797 shares during the period. Bank of New York Mellon Corp boosted its position in shares of ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after buying an additional 34,855 shares during the period. Swedbank AB grew its holdings in ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after buying an additional 120,983 shares in the last quarter. Ameriprise Financial Inc. increased its position in ServiceNow by 21.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock valued at $750,513,000 after acquiring an additional 168,734 shares during the period. Finally, Clearbridge Investments LLC raised its stake in ServiceNow by 1.8% during the 2nd quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider’s stock valued at $533,316,000 after acquiring an additional 11,979 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

(Get Free Report)

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.

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